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Novatek increases investment in the Ust-Luga project

CIS PETROCHEMICALS

Novatek increases investment in the Ust-Luga project

Novatek has increased investment in the complex in Ust-Luga to more than 1.4 billion roubles in 2018. The company is investing in the construction of hydrocracking unit, according to materials accompanying IFRS reporting.

“In 2018, we invested in a project to build a hydrocracking unit at our complex in Ust-Luga, which will allow us to increase the depth of processing of stable gas condensate and the output of light petroleum products,” the document says.

As a result, capital investments in the complex exceeded 1.47 billion roubles in 2018. In 2017, this figure was 223 million roubles.

The cost of the hydrocracking project can reach about 20 billion roubles. The planned capacity of the plant will be no more than 1 million tons, while the total capacity of the complex of 6 million tons will not change.

It is expected that with the launch of the hydrocracking complex in Ust-Luga, the production of kerosene, diesel fuel and naphtha will increase due to the deep processing of the atmospheric residue after the fractionation of SGC (stable gas condensate).

In December 2018, it became known that the company decided on the licensor for the hydrogen plant. The company plans to launch hydrogen production using Haldor Topsoe convection reforming technology. The installation capacity will be 30 thousand Nm3 / h. The launch of the installation is scheduled for the first quarter of 2020.

Currently, Novatek operates a complex for the fractionation and transshipment of stable gas condensate in Ust-Luga. The complex was commissioned in 2013, it allows to process stable gas condensate into light and heavy naphtha, kerosene, diesel fraction and marine fuel component.

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