Russia’s Novatek may need up to two months to repair Ust-Luga processing complex – Kommersant

Novatek may need up to two months to repair a fuel-producing complex at its Baltic Sea Ust-Luga terminal which was damaged in a suspected Ukrainian drone attack, the Kommersant business daily reported on Thursday citing sources.

Novatek said on Sunday it had been forced to suspend some operations at the huge Baltic Sea fuel export terminal and “technological processes” at a nearby fuel-producing complex due to a fire, started by what Ukrainian media said was a drone attack.

“The consequences are not critical, exports of raw materials continue, and the estimated repair time is still very preliminary,” Kommersant quoted one of its sources as saying.

The attack and ensuing fire have disrupted Russian fuel exports and added to uncertainty in energy markets already rocked by geopolitical jitters and tensions in the Red Sea region, one of the key gateways for global oil exports.

Novatek resumed fuel loadings at Ust-Luga terminal on Wednesday, according to industry sources and LSEG data. Operations at the processing complex have not yet resumed.
Source: Reuters (Reporting by Reuters, Editing by Andrew Osborn)