Shell Trading Rotterdam B.V. signed a long-term offtake agreement with Green Sky Manara LLC on 2 November 2026. Under the deal, Shell Aviation gains exclusive rights to approximately 150,000 tonnes per year of sustainable aviation fuel (SAF) or an equivalent volume of hydrotreated vegetable oil (HVO). The agreement also covers bionaphtha and biopropane from the same plant.
Green Sky Manara SAF Project at a Glance
| Who | Shell Trading Rotterdam B.V. & Green Sky Manara LLC |
|---|---|
| What | Long-term offtake agreement for sustainable aviation fuel (SAF) and HVO |
| Volume | ~150,000 tonnes per year of SAF or equivalent HVO, plus bionaphtha and biopropane |
| Where | Nador West Med Port, northern Morocco |
| Investment | Approximately US$239 million |
| Start-up | 2028 |
Source: Shell, 2026; project reporting, 2026
Green Sky Manara is the project vehicle through which Green Sky Capital plans to develop the facility at Nador West Med Port in northern Morocco. The plant will use Axens’ Vegan HEFA technology (a hydroprocessed esters and fatty acids process) fed by used cooking oil, animal fats and food-processing residues. Those waste-based inputs connect Morocco’s port infrastructure to fast-growing European demand for lower-carbon aviation fuels.
Why does the Nador project matter?
The planned facility carries an estimated investment cost of approximately US$239 million, according to project reporting for 2026. Annual SAF output is targeted at up to 200,000 tonnes per year. Shell’s contracted 150,000 tonnes represents a substantial share of that capacity, giving the project meaningful revenue visibility from day one.
Start-up is targeted for 2028. Shell-related reports cite October of that year; separate project documentation points to August. The developer has yet to confirm a fixed date.
The table below summarises the project’s key reported metrics.
| Project measure | Reported figure |
|---|---|
| Estimated investment | Approximately US$239 million (project reporting, 2026) |
| Shell offtake volume | ~150,000 t/yr SAF or equivalent HVO, plus bionaphtha and biopropane (Shell, 2026) |
| Expected start-up | 2028, October per Shell-related sources; August per project reports |
What does the deal mean for investors?
Exclusive offtake agreements improve a project’s bankability. Lenders weigh contracted revenue against construction and feedstock risk. Shell’s presence reduces the sales-side uncertainty that often delays financial close on first-of-kind facilities.
Feedstock costs remain the key margin driver. Used cooking oil and animal fats face growing competition from renewable diesel producers. Supply contracts and pricing terms will matter as much as the offtake deal itself.
Meanwhile, Nador West Med Port offers direct export access to European aviation markets. That logistical advantage, combined with an established buyer, strengthens the project’s commercial case. However, Green Sky Manara must still secure construction financing, engineering approvals and feedstock supply agreements before ground breaks.
Shell adds credibility without absorbing execution risk. For Morocco, the agreement creates a confirmed route into international SAF markets at a moment when European airlines face rising blending mandates under the ReFuelEU Aviation regulation. As FurtherAfrica’s reading of the numbers shows, the contracted volume alone could generate material annual revenues at current SAF prices.
An anchor offtake from a major oil company is a necessary condition for project finance, but not a sufficient one.
Investors should track financial close timing, feedstock contract announcements and any engineering procurement and construction award as the most reliable signals of whether the 2028 target holds.
Source: Furtherafrica