NOVATEK Launches First Stage Of Ust-Luga Complex
MOSCOW, June19, 2013
MOSCOW, June19,2013 /PRNewswire/ --OAO NOVATEK ("NOVATEK" and/or the
"Company") announced today the launch of the first stage of the Gas Condensate
Fractionation and Transshipment Complex ("the Ust-Luga Complex") located at
the port of Ust-Luga on the Baltic Sea. The inaugural tanker carrying 80
thousand tons of naphtha was shipped today to Braskem, a Brazilian company.
The first stage of the Ust-Luga Complex includes a stable gas condensate
fractionation unit with nameplate capacity of three (3) million tons per
annum, 520 thousand cubic meters of storage facilities for feedstock and
products, a deep-water berth equipped with loading arms capable of loading
tankers up to 120 thousand deadweight tons, administrative buildings and
living quarters, engineering systems and networks, and sewage treatment
The second stage of the Ust-Luga Complex, which is currently under
construction, includes another stable gas condensate fractionation unit with a
nameplate capacity of three (3) million tons. The second stage is expected to
be completed during the fourth quarter 2013.
According to NOVATEK's Chairman of the Management Board, Leonid V. Mikhelson,
"We have successfully launched the first stage of one of our main strategic
projects. The Ust-Luga Complex allows us to expand our vertically integrated
chain and our customer base, as well as to increase sales of higher value
added products across diverse markets."
The Ust-Luga Complex processes stable gas condensate into petroleum products:
light and heavy naphtha, jet fuel, diesel fuel and heating/ship fuel, as well
as to ship petroleum products and gas condensate to international markets.
The state-of-the-art equipment has been installed at the Complex ensuring
maximum automation of technological processes, as well as providing the
highest level of industrial and environmental safety. Another unique feature
of the Complex is its location on an artificially in-filled land, which
required the most compact layout of production facilities.
OAO NOVATEK is Russia's largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, the Company is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. The Company's upstream activities are
concentrated in the prolific Yamal-Nenets Autonomous Region, which is the
world's largest natural gas producing area and accounts for approximately 84%
of Russia's natural gas production and approximately 17% of the world's gas
production. NOVATEK is an open joint stock company established under the laws
of the Russian Federation. The Company's shares are listed in Russia on
MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker
SOURCE OAO NOVATEK
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