Novatek partially resumed processing at Ust-Luga complex, sources say
MOSCOW, Aug 29 (Reuters) - Russian energy company Novatek NVTK.MM partially resumed gas condensate processing at its complex in the Baltic port of Ust-Luga, two market sources said on Friday, after suspending the operations last weekend due to a fire after a drone attack.
One of the three units at the complex was relaunched at full capacity on August 26, the sources said.
Novatek did not immediately reply to a request for comment.
The Ust-Luga complex has three processing units with a capacity of 3 million metric tons a year each and refines stable gas condensate into light and heavy naphtha, jet fuel, ship fuel component (fuel oil) and gasoil.
A drone attack caused a fire at the complex early on August 24 leading all operations, including fuel export loadings, to be fully shut on Sunday.
The repair of the two other damaged units at Novatek Ust-Luga complex could take months, according to sources.
In January to June 2025, the complex processed 4.2 million tons of gas condensate, company data showed.
Related Articles
Alibaba’s Friday Earnings to Crown China Tech’s Q2 Winner
TradingKey - Names like JD.com, Pinduoduo, Tencent, and Alibaba represent the top-tier of Chinese tech stocks trading in the U.S. But their FY2025 Q2 earnings paint very different pictures.
NVIDIA Q2 FY2026: Surfing the AI Surge with Blackwell, Steering Through China’s Export Challenges
TradingKey - NVIDIA Corporation (NASDAQ: NVDA) reported strong Q2 FY2026 results on August 27, 2025, after market close, driven by robust AI-powered demand and adoption of its next-generation Blackwell GPU platform. The company delivered significant revenue and profit beats overall, with...
Nvidia Q2 Earnings Expectations: With Little Room for Error, Will China-Related Risks Be Magnified?
TradingKey - Ahead of Nvidia Q2 FY2026 earnings report, multiple Wall Street firms have raised their price targets on Nvidia, reflecting strong confidence in AI demand. While analysts continue to forecast robust ~50% year-over-year growth in revenue and EPS, the China variable remains a major risk
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...
Bitcoin Price Forecast: Trends and Investment Outlook from 2025 to 2030
From $0.01 in 2009 to $120,000+ in 2025, Bitcoin has evolved from obscurity to a globally recognized financial asset. While institutions and governments increasingly embrace it, investors must remain vigilant against volatility, security risks, and scams.
