Novatek's new Ust-Luga condensate unit set for June testing
MOSCOW (Reuters)—Russian energy company Novatek plans to start test operations for a new processing unit at its gas condensate complex at the Baltic Sea port of Ust-Luga in mid-June.
The complex processes gas condensate at two units into light and heavy naphtha, jet fuel, fuel oil and gasoil, enabling the company to ship oil products as well as gas condensate to international markets.
In 2023, the Ust-Luga complex processed 7 MM metric t of gas condensate, Novatek data shows.
The new refining unit, with capacity of 3 MM metric tpy will allow the company to increase naphtha exports to between 550,000 t and 600,000 t a month from 350,000 t to 370,000 t currently, Reuters calculations show.
Novatek, which exports naphtha mostly to Asia—including China, Singapore, Taiwan and Malaysia—did not respond immediately to a request for comment.
(Reporting by ReutersEditing by David Goodman)
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