DAVOS, January 23. /TASS/. Novatek announced plans to expand the complex for fractionation and transshipment of stable gas condensate in the port of Ust-Luga on the Baltic Sea. The company intends to build a third line in 2022 that will process 1.5-2 mln tonnes of gas condensate, Head of Novatek Leonid Mikhelson told reporters on the sidelines of the World Economic Forum (WEF) in Davos.
"In Ust-Luga, we will add a third line. Now it's 6 mln tonnes, we'll add a third, which will give an additional volume of condensate processing. Completion of the construction period is 2022. This will give 1.5-2 mln tonnes in addition to 6 mln," he said.
Mikhelson added that the need to expand the plant is associated with an increase in gas condensate production due to the launch of LNG projects, which was increased due to the OPEC+ decision to exclude condensate from the deal to reduce production.
The stable gas condensate fractionation and transshipment complex commissioned in 2013 in the Ust-Luga port on the Baltic Sea allows processing of stable gas condensate into light and heavy naphtha, kerosene, diesel fraction, and marine fuel component, and ships finished products for export by sea. The complex also makes it possible to transship stable gas condensate for export.