NOVATEK has entered into a commercial agreement with the Yeochun Naphtha Cracking Center, or YNCC, a South Korean petrochemical company, for supplying of up to 300,000 tons of light naphtha produced at the Ust-Luga gas condensate transshipment and fractionation complex in 2013. “The contract with YNCC is another step in the expansion of the Ust-Luga customer portfolio, guaranteeing the sustainability of our integrated production chain,” said Mikhail Popov, the first deputy chairman of NOVATEK’s management board.

According to the executive vice president of YNCC Paul Joo, NOVATEK has already worked out reliable logistics of product supplies to South Korea. In that regard, YNCC was confident in the security of supply of the required volume of naphtha as its refining feedstock.