Russian Novatek signs naphtha supply deal with South Korea’s YNCC

06 February 2013 12:11  [Source: ICIS news]

LONDON (ICIS)--Novatek has agreed to supply South Korean petrochemical company Yeochun NCC (YNCC) with up to 300,000 tonnes of light naphtha in 2013, the Russian natural gas producer said on Wednesday.

The material will be produced at Novatek’s new Ust-Luga Gas Condensate Transhipment and Fractionation complex in the Leningrad Oblast region of northwestern Russia. Material produced there will be shipped to South Korea by Novatek, YNCC added.

Currently in development, the Ust-Luga complex will have a gas condensate processing capacity of up to 6m tonnes/year when it comes fully on stream in the fourth quarter of 2015.

Novatek is currently carrying out commissioning tests for the first phase of the plant, which will have an annual capacity of 3m tonnes/year. The facility will produce light and heavy naphtha, diesel, jet fuel and heating oil, the Russian company added.

By: Tom Brown
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly