NOVATEK Completes Construction Of The Second Stage Of Ust-luga Complex
MOSCOW, Oct. 16, 2013
MOSCOW, Oct. 16, 2013 /PRNewswire/ --OAO NOVATEK ("NOVATEK" and/or the
"Company") announced today the completion of construction and the start of
commissioning tests at the second stage of the Gas Condensate Fractionation
and Transshipment Complex located at the port of Ust-Luga on the Baltic Sea.
The second stage includes a stable gas condensate fractionation unit with
nameplate capacity of three (3) million tons per annum and an additional
deep-water berth. Following the launch ofthe second stage facilities, overall
gas condensate processing capacity at Ust-Luga will increase to 6 million tons
According to NOVATEK's CEO, Leonid Mikhelson, "Completion of the Ust-Luga
Complex is an important part of the expansion of our processing capacities
ahead of significant increases in gas condensate production. Achieving full
processing capacity at Ust-Luga supports our vertical integration of our
production value chain and allows us to further diversify our product stream
as well as our customer base for such products."
On 19 June 2013, NOVATEK launched the first stage of the Ust-Luga Complex
which 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 facilities.
The Ust-Luga Complex allows to process stable gas condensate into petroleum
products: light and heavy naphtha, jet fuel, gasoil and heating (ship) fuel,
as well as to ship petroleum products and gas condensate to international
markets. The Complex currently processes all volumes of stable gas condensate
produced at the Purovsky Plant.
For further information, please visit www.novatek.ru or contact:
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 90%
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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