Purovsky Plant Reaches Milestone of 80 Million Tons Processed
Moscow, 1 February 2019. PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that its Purovsky Plant has cumulatively processed 80 million tons since the facilities start-up in June 2005. The Purovsky Plant processes de-ethanized (unstable) gas condensate produced at the fields of NOVATEK and its joint ventures into stable gas condensate and natural gas liquids. The Purovsky Plant is the central element in NOVATEK’s vertically integrated value chain providing the Company with complete operational control over its processing needs and access to higher yielding marketing channels for stable gas condensate.
The first stage of the Purovsky Plant was launched in 2005. With the launch of second stage in 2008, the Plant’s capacity was increased from two to five million tons per annum. In 2014, the Purovsky Plant’s capacity additionally increased from five to 11 million tons per annum, allowing NOVATEK to optimally achieve the balance between gas condensate production potential and its processing capacity.
“Such impressive operating results became possible due to the well-planned growth of the plant’s processing capacity, the successful development of the Company’s resource base and the timely commissioning of new fields.” noted Alexander Fridman, NOVATEK’s First Deputy Chairman of the Management Board. “At the Purovsky Plant, we applied state-of-the-art technologies to optimize the plant’s technological process to ensure high quality of stable gas condensate and natural gas liquids, along with ensuring a high level of industrial and occupational safety at the facility. The combination of this approach ensures sustainable high operating results.”
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”.