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NOVATEK launches second phase at Purovsky Gas Condensate Processing Plant

Moscow, 19 November 2008. OAO NOVATEK (hereinafter «NOVATEK» and/or the «Company») is pleased to announce that it has completed and launched the second phase of its Purovsky Gas Condensate Processing Plant («Purovsky Plant»). The commissioning of the second phase enables the Company to increase processing capacity to 5 million tons («mmt») per annum, comprising 3.75 mmt of stable gas condensate and 1.25 mmt of LPG per annum.

The two phases of the Purovsky Plant were completed over a five-year period:

  • 1st phase — comprising two (2) million tons was constructed during the period from October 2003 to June 2005.
  • 2nd phase — comprising an additional three (3) million tons was constructed during the period from July 2007 to October 2008.

The commencement of operations at the Purovsky Plant has proved a vital link in NOVATEK’s mid-stream operations enabling the development of the Company’s complex gas condensate fields as well as optimizing marketing channels for gas condensate production. «The Purovsky Plant is an integral part of NOVATEK’s gas condensate value chain and has allowed us to optimize our liquids commercial trading operations both domestically and internationally», stated Leonid v. Mikhelson, CEO, NOVATEK.

The Purovsky Plant will continue to have a significant social impact in the region by developing infrastructure, creating new jobs and increasing tax revenues.

PAO NOVATEK is one of the largest independent natural gas producers 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. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, 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.