OREANDA-NEWS  On 24 November NOVATEK (hereinafter “NOVATEK” and/or the “Company”) announced that it has completed and launched the second phase of its Purovsky Gas Condensate Processing Plant (“Purovsky Plant”). The commissioning of the second phase enables the Company to increase processing capacity to 5 million tons (“mmt”) per annum, comprising 3.75 mmt of stable gas condensate and 1.25 mmt of LPG per annum.
 
The two phases of the Purovsky Plant were completed over a five-year period:
1st phase – comprising two (2) million tons was constructed during the period from October 2003 to June 2005.

2nd phase – comprising an additional three (3) million tons was constructed during the period from July 2007 to October 2008.

The commencement of operations at the Purovsky Plant has proved a vital link in NOVATEK’s mid-stream operations enabling the development of the Company’s complex gas condensate fields as well as optimizing marketing channels for gas condensate production. “The Purovsky Plant is an integral part of NOVATEK’s gas condensate value chain and has allowed us to optimize our liquids commercial trading operations both domestically and internationally”, stated Leonid V. Mikhelson, CEO, NOVATEK.
 
The Purovsky Plant will continue to have a significant social impact in the region by developing infrastructure, creating new jobs and increasing tax revenues.