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In June 2005, we commenced the first phase of our wholly-owned Purovsky processing plant, which enabled us to process 100% of our unstable gas condensate production into stable gas condensate and LPG. The Purovsky processing plant is a vital link in our mid-stream operational chain allowing us full control over our processing needs and providing access to the high-yielding marketing channels for our gas condensate production.
In 2007, we began the engineering design of a terminal facility at Ust-Luga, located on the Baltic Sea, for the transshipment and fractionation of stable gas condensate produced by our Purovsky Plant, which has an estimated throughput capacity of up 6 million tons per annum.
In 2008, we completed the second phase at the Purovsky Plant increasing the plant’s processing capacity to 5 mmt per annum. The migration further down the value chain will allow us to refine raw materials into value-added products thus capturing additional products margins.
During 2009, NOVATEK processed 2,845 thousand tons of unstable de-ethanized gas condensate at the Purovsky Processing Plant, of which 786 thousand tons was processed in the fourth quarter.
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