Russia's Novatek launches new condensate unit at Ust-Luga complex
Russian energy company Novatek has launched the new processing unit at its gas condensate complex at the Baltic Sea port of Ust-Luga in the last third of the August, two market sources revealed.
The new refining unit has annual capacity of 3 metric MMtpy of gas condensate - a liquid feedstock similar to light crude oil, processing it into light and heavy naphtha, jet fuel, fuel oil and gasoil.
Novatek launched the Ust-Luga complex with two refining units in 2013 to process gas condensate produced from its Arctic fields and ship oil products as well as gas condensate to international markets.
In 2023, the complex processed 7 MM tonnes of gas condensate, Novatek data showed.
After launching the new unit Novatek began maintenance work on one of the site's older ones. Traders therefore do not expect a significant rise in naphtha exports from the complex this month.
Novatek exports naphtha mostly to Asia, including China, Singapore, Taiwan and Malaysia, LSEG data shows.
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