Novatek JSC plans to launch the first phase of a complex for handling and fractionation of stable gas condensate and its products at the commercial port of Ust-Luga (Leningrad region), Novatek Board Chairman Leonid Michelson said today in an interview with PortNews IAA’s correspondent.
According to Mr. Michelson, the construction of the quay wall of the terminal is about to be completed. In October-November 2010 Novatek will announce tenders to pick contractors for the supply of terminal equipment.
According to Mr. Michelson, the construction of the quay wall of the terminal is about to be completed. In October-November 2010 Novatek will announce tenders to pick contractors for the supply of terminal equipment.
Mr. Michelson said that the new terminal complex 1st phase will allow handling of 3 million tons of gas condensate. Then, depending on the Novatek’s plans for gas production it projects to begin construction of the terminal 2nd phase. "Maybe right after the launch of the first phase”, Mr. Michelson said.
Earlier reports said that Ust-Luga Company (Leningrad oblast), implementing the new sea port project in the Luga Bay of the Gulf of Finland, and Novatek JSC signed in September 2007 an investment contract for construction of a transshipment complex at Ust-Luga port. Novatek is to build at the port the complex for handling and fractionation of stable gas condensate, produced by Novatek - Purovsky CP Plant (Yamalo-Nenets Autonomous District). The complex projected throughput is 6 million tons a year. The construction of this terminal will become the final link in the logistics supply chain of Novatek’s own production. Estimated capital investment in the construction is estimated at 9.6 billion rubles.
Novatek OJSC is the largest independent and the second largest producer of natural gas in Russia. The Company, founded in 1994, is engaged in the prospecting, production and processing of natural gas and liquid hydrocarbons and has 6.86 billion oil equivalent barrels of proved reserves at the end of 2009. The Company’s fields and license areas are located in the Yamalo-Nenets Autonomous District, the world's largest natural gas producing area, which accounts for over 90% of Russia’s natural gas production and roughly about 20% of world’s gas production.
Novatek OJSC is the largest independent and the second largest producer of natural gas in Russia. The Company, founded in 1994, is engaged in the prospecting, production and processing of natural gas and liquid hydrocarbons and has 6.86 billion oil equivalent barrels of proved reserves at the end of 2009. The Company’s fields and license areas are located in the Yamalo-Nenets Autonomous District, the world's largest natural gas producing area, which accounts for over 90% of Russia’s natural gas production and roughly about 20% of world’s gas production.