HomeMediaLatest NewsCondensate has extracted, but a sediment remained

Condensate has extracted, but a sediment remained

25 January 2024

Kondratiev Sergey V. Principal Director on Economic Studies, Head of the Economic Department

Sergey Kondratiev, Principal Director on Economic Studies at the Institute for Energy and Finance, commented to the Kommersant newspaper about the incident at the NOVATEK Ust-Luga refinery.

Sergey Kondratiev believes that the damage caused will not have a serious impact on the company's operating activities. The cost of replacing damaged tanks, according to his estimates, is unlikely to exceed 20 million rubles, and Russian manufacturers will ensure prompt delivery.

"The issue of the pumping station cost is more complicated, the company does not specify the scale and nature of the damage, but I do not think that the costs will exceed 100 million rubles," the analyst says.

In his opinion, the launch of the plant at reduced capacity may occur in the near future, and the total losses will amount to no more than $ 12-15 million, that is, less than 0.2% of the projected EBITDA for 2024.
Kondratiev Sergey V. Principal Director on Economic Studies, Head of the Economic Department
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