Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Novatek May Delay Ust-Luga Gas-Condensate Port, Vedomosti Says

Jan. 25 (Bloomberg) -- OAO Novatek, Russia’s largest independent natural-gas producer, may delay the opening of the Ust-Luga gas-condensate terminal on the Baltic Sea from the fourth quarter of this year, Vedomosti reported.

Novatek faces engineering issues similar to those that OAO Transneft encountered at its Ust-Luga oil terminal, which is to begin operating in the first quarter after a delay from November, the Moscow-based newspaper said today, citing a letter from Transneft President Nikolai Tokarev to Russian Deputy Prime Minister Igor Sechin.

Novatek and Transneft, Russia’s monopoly operator of oil pipelines, are building their terminals at neighboring piers in the port of Ust-Luga, according to Vedomosti. The companies are not partners in either project, and the newspaper didn’t explain how Tokarev might know of Novatek’s plans for its condensate terminal.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.