UPDATE ON RESTART TIMELINE: Novatek Partly Suspends Processes at Ust-Luga Amid Fire

Russia’s Novatek has suspended some operations at the Ust-Luga export terminal on the Baltic Sea, following a fire on 21 January according to S&P Commodity Insights that was suspected to be caused by drone attack, Ukrainian media said, cited by Reuters.

• Analysts told Reuters Novatek is likely to resume operations at the terminal and processing facility within weeks after the firm had been forced to suspend some operations and the export terminal and “technological processes” at the complex.
• "We believe the plant is likely to return to significant capacity within weeks or, at worst, months," analysts at Moscow-based BCS brokerage said in a note.
• "The technological process at Novatek-Ust-Luga has been stopped, and an operational headquarters has been established to eliminate the consequences. Damage assessment will be carried out later," the company said.
• Three international tanker ships were anchored near the Ust-Luga terminal but there were no reports of damage to them from the fire, Fontanka said, cited by Reuters.
• Fontaka also reported that the complex was attacked by two drones, and a large gas storage facility was damaged.
• The fire comes after reported attacks on an oil product depot in Bryansk and an attempted drone attack on the St. Petersburg Oil Terminal in recent days according to S&P.