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NOVATEK to construct transshipment complex in Ust-Luga
21 September 2007
Sochi, 21 September, 2007. OAO NOVATEK announced today that it has signed an agreement with OAO
The new complex, located in the North West Region of Russia, will have an estimated throughput capacity of 6 million tons per annum and will expand the Company’s existing gas condensate value chain. The construction of a fractionation unit within the new complex will allow NOVATEK to export high quality refined products rather than raw materials. The estimated cost to construct the complex is approximately 9.6 billion rubles.
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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