Novatek Jet Fuel Shipments Behind Russian Export Boost

July 21, 2015 at 13:32 by Michelle Wiese Bockmann in Tanker and Oil Industry

Novatek Jet Fuel Shipments Behind Russian Export Boost

Novatek, the Russian refiner and producer largely responsible for the Federation's rapidly rising jet fuel exports, said second-quarter sales of the middle distillate totaled 203,000 tons, as production at its Ust Luga complex achieved full capacity in March.

Novatek cargoes tracked leaving the Russian Baltic port over the second quarter totaled 225,000 tons on eight tankers, according to the OPIS Tanker Tracker.

Some 37 cargoes of jet fuel of more than 800,000 tons total have been loaded at Ust Luga for Novatek since the refinery began producing jet fuel for sale from May 2014, OPIS data shows.

The company said production in the second quarter reached 16.9 billion cubic meters of natural gas and 2.2 million tons of liquids, including gas condensate and crude oil. That was up by 10.8% and 59.3%, respectively, from the prior-year period.

Novatek's Ust Luga Fractionation and Transshipment Complex, which began exports in mid-2014, processes up to 6 million tons a year of stable gas condensate into petroleum products including naphtha, jet fuel and gasoil, its annual 2014 report said. In 2014, some 472,000 tons of jet fuel was produced, according to the report.

Europe trade data shows that jet fuel imports from Russia reached about 150,000 metric tons in 2014. That compares to first-quarter import data showing that 370,000 tons arrived in the 28 member countries of the EU, already more than double the levels seen the prior year.

Novatek cargoes are seen sold to oil traders and companies that discharge the jet fuel in Porvoo, Finland, Gavle, Sweden, and ports in Denmark and Sweden, according to the OPIS Tanker Tracker.

Novatek Jet Fuel Shipments Behind Russian Export Boost

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