/Moscow/ 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.
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”.
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.