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Russian Ust-Luga Gas Condensate Processing Out for February

OIL

Russia’s Novatek will not resume gas condensate processing at Ust-Luga this month after recent drone damage according to Reuters sources.

  • Novatek suspended some operations January 21 at the Baltic Sea fuel export terminal at Ust-Luga as well as "technological processes" at a nearby fuel-producing complex due to a fire.
  • Novatek fuel exports from the terminal resumed January 24.
  • The sources said Novatek may be forced to export gas condensate from the terminal instead of higher margin fuels.
  • LSEG data shows two vessels arriving on Monday – likely to load gas condensate based on prior pickups.
Energy BulletsCommodities
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