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NOVATEK BRINGS PUROVSKY PROCESSING PLANT ONSTREAM
03 June 2005
Moscow, Russia — 3 June 2005 — NOVATEK (RTS: NVTK) announced today that it has begun production at its new Purovsky processing plant. The plant was constructed to meet the growing demand for additional processing capacity driven by increased volumes of gas condensate production as well as the increased capacity utilization of Gazprom’s Surgutsky refinery, which has previously been used to process NOVATEK’s condensate.
The new processing plant will alleviate the acute problem currently faced by the Russian gas industry because of the depletion of natural gas reserves found in the shallower Cenomanain reservoirs. The Purovsky processing plant will increase processing capacity of
Leonid Mikhelson, Chairman of the Management Board of OAO NOVATEK commented: «This commissioning of this processing facility addresses the main issue faced by all gas producing companies; the lack of gas condensate processing facilities to produce
The output from the plant will be transported by rail. A new section of track was built connecting the Purovsky processing plant with the
The Company held an open tender for the delivery of processed condensate in 2005 which was won by BP and KOCH SUPPLY & TRADING, large hydrocarbon consumers and processors.
The launch of the Purovsky processing plant will have a significant impact on regional and local development. New employment has been created and substantial tax revenues have been guaranteed.
YaNAO Governor Yuryi Neelov, described the launch of the Purovsky processing plant as a new stage of Yamal’s industrial development commented, «One may say that the launch of this plant is the beginning of a new era for our region — the era of the gas processing industry. Moreover, we have not paid enough attention to the regions' condensate processing in the past, and the Purovsky ZPK will become the first condensate processing facility».
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global gas market by successfully launching the Yamal LNG project. 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 mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.
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