Attack on Ust-Luga: Novatek estimated the time frame for repairing the plant

Continuity of the technological process in a gas condensate processing plant of a private gas company in Russia Novatek in Ust-Luga, Leningrad region of the Russian Federation, which was damaged as a result of the Ukrainian drone attack, may last up to two months. This was reported by the Russian publication Kommersant with reference to their sources.

Media sources say that “the consequences are not critical,” and that raw materials from the plant “continue to be exported.” However, they admitted that “the repair time estimate is still very early.”

Experts issue different estimates of the cost of terminal damage Novatek damage. For example, in the Russian company BKS Investment World It is believed that stopping the technological process at the Ust-Luga complex could cost the company $2 million per day. If the complex returns to work in a few weeks or a few months, losses can reach 2-3% of EBITDA.

According to estimates by the Russian Institute of Energy and Finance, losses from downtime will not exceed 0.3% of EBITDA.

Myself Novatek plans to estimate the cost of the damage caused, but the company has not yet published an official estimate.

Note that the plant of Russia Novatek on the coast of the Baltic Sea suspended its work after the attack by Ukrainian UAVs.

Russia was forced to move its air defense systems from the front after an attack on a gas terminal Ust-Luga Oil in the Leningrad region.

As you know, on January 24, the Russian media reported that Novatek continued the export of petroleum products from the terminal. However, the company’s plant in Ust-Luga is still closed and is now exporting fuel produced before the fire.