Galp forms venture to use oil refinery combustion gases for algae production

In Portugal, the international oil company Galp signed an agreement with the Portuguese Engineering, Technology and Innovation Institute to establish a joint venture to research the production of algae from combustion gases at the Galp refinery at Sines, on the Portuguese coast. The algae would be refined to produce oil for biodiesel.

Galp Energia recently canceled development of its Matosinhos refinery, due to the escalating cost of feedstocks. Galp announced a year ago that it would invest up to $350 million to adapt its refineries to produce second generation biofuels, with more than $70 million earmarked for Matosinhos. The company expects to complete construction in 2010 of a 500,000 tonne biofuel plant at Sines

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