UST-LUGA /Leningrad region/, June 14. /TASS/. Russian independent gas producer Novatek plans to launch the third stage of the gas condensate fractionation and transshipment complex in Ust-Luga in the middle of next year, Novatek CEO Leonid Mikhelson told reporters.

"We are building the third stage, because we look at the volume of production of our condensate. There is not enough processing capacity. In addition to that there are planned shutdowns," he said.

"Therefore, it was decided to build a third stage to cover these peaks in condensate production and so that we have 7-8 million tons of permanent shelf for processing 365 days a year. In the middle of next year, the third stage of this plant will be commissioned," he added.

The Ust-Luga Complex is a gas condensate fractionation and transshipment complex located at the all-season port of Ust-Luga on the Baltic Sea. The Ust-Luga Complex processes stable gas condensate into light and heavy naphtha, jet fuel, ship fuel component (fuel oil) and gasoil, and enables us to ship the value-added petroleum products to international markets. The Ust-Luga Complex also allows for transshipment of stable gas condensate to the export markets. The complex was put into operation in 2013. Its capacity was 6 million tons, after the launch of the new plant it increased to 7 million tons per year.