Novatek Starts ESPO Blend Exports From Kozmino
Novatek started exporting ESPO Blend for the first time from the Far-Eastern port of Kozmino in January, traders said.
The company sold 60,000 tonnes of ESPO Blend to trading company Concept Oil, which creates export cargoes for small oil producers in East Siberia, market participants said.
ESPO Blend cargoes for small producers are sold on the Asian market by Swiss-based trading company Tenergy.
Novatek was able to start crude oil exports from Kozmino after production on its Yarudeyskoe oil field reached its projected level of 3.5 million tonnes per year.
In February, Novatek (NVTK.ME) also plans to export about 60,000 tonnes of crude via Kozmino, in a cargo for small producers, if it agrees on the extra export quota for this route with Transneft, traders say.
Novatek plans to continue exporting ESPO Blend in the spring and also continue exporting from Novorossiisk.
In 2015, Novatex exported more than 370,000 tonnes of Siberian light from Novorossiisk, compared to only 30,000 tonnes in 2014.
Novatek did not respond when asked for comment.
Reporting by Gleb Gorodyankin, Natalia Chumakova and Olga Yagova
