PAO NOVATEK (“NOVATEK”) announced that, during the official ceremony at the port of Ust-Luga on the Baltic Sea, its hydrocracking unit was launched. The unit was built under the agreement between the Company and the Ministry of Energy of the Russian Federation to develop new processing facilities.
With the hydrocracker in operation, NOVATEK will be able to process heavy fractionation residuals (fuel oil) at its gas condensate fractionation facilities in Ust-Luga to reach a 99% yield of marketable light petroleum products.
Since the project was developed using domestic manufacturing facilities and infrastructure, the Company will achieve better processing profitability and a more vertically integrated value chain.
