Novatek signs marketing agreement with Yeochun Naphtha Cracker Center
Tuesday, Feb 05, 2013
OAO NOVATEK (“NOVATEK” or the “Company”), announced today the conclusion of a commercial agreement with the Yeochun Naphtha Cracker Center (“YNCC”), a South Korean petrochemical company, for supplying up to three hundred thousand tons of light naphtha produced at the Ust-Luga Gas Condensate Transshipment and Fractionation complex (“Complex”) in 2013.
First Deputy Chairman of NOVATEK’s Management Board, Mikhail Popov noted: “The contract with YNCC is another step in the expansion of customer portfolio for the Ust-Luga Complex guaranteeing sustainability of our integrated production chain”.
Executive Vice President of YNCC, Paul Y. Joo commented: “NOVATEK has already worked out reliable logistics of product supplies to South Korea, and we are confident in the security of supply of the required volumes of naphtha as a feedstock for our production”.