NOVATEK ANNOUNCES COMPLETION OF VITINO SEA PORT EXPANSION

Contacts
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
+7 (495) 730-6013
ir@novatek.ru

 

Maria Dokuchaeva, Press-secretary
+7 (495) 721-2207
press@novatek.ru

 

23 June 2005

Moscow, 23 June 2005. OAO Novatek (RTS: NVTK) today announced that it has completed the expansion of the Vitino Sea Port Terminal in the Murmansk Region in north-west Russia. The port is expected to become the principal export terminal for shipping the Company’s products to international markets.

The expansion and modernisation of the sea port terminal was carried out in conjunction with ZAO «Belomorskaya Oil Shipping Terminal», and included the expansion of the port’s existing loading capacity and storage facilities, the construction of a new off-loading site, and the installation of new equipment.

The capacity of the new terminal is sufficient for large-scale tankers carrying up to 60,000 tonnes of gas condensate and the new off-loading site was specifically designed to handle stable condensate delivered from Novatek’s Purovsky processing plant located in the Yamalo-Nenets Autonomous Region.

As expected, the modern facilities will enable the Company to maintain high quality standards for its stable gas condensate exports. The initial phase of the development project was completed this month, only 6 months after construction began in December 2004.

The terminal’s new facilities include:

  • Loading arms
  • 60,000 square meters of storage tanks
  • Network of flow lines
  • Control and Pumping stations
  • Over 2 kilometres of loading flow lines Novatek’s new Purovsky processing plant is designed to initially process 2 million tons of unstable gas condensate per annum.

As planned, the Purovsky processing plant will produce approximately 1.6 million tons of stable condensate and approximately 400 thousand tons of liquefied petroleum gas per annum. All of the Purovsky processing plant’s stable condensate output is currently transported to the port by OAO RZD for export whilst the liquefied petroleum gas output is transported by rail for domestic consumption by NovaTrans, a wholly-owned subsidiary of Novatek.


PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG 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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