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Russia's Ust-Luga port continues crude, fuel exports while Novatek terminal shut | Reuters


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MOSCOW, Jan 23 (Reuters) - The Baltic Sea port of Ust-Luga was exporting crude oil and fuel on Tuesday apart from at Novatek's (NVTK.MM) , opens new tab terminal which remained closed after being damaged by fire, according to data from LSEG and industry sources. Novatek said on Sunday it had been forced to suspend some operations at the huge Baltic Sea fuel export terminal and "technological processes" at its fuel-producing complex due to a fire, started by what Ukrainian media said was a drone attack. Analysts believe it will take weeks to restart large-scale operations at the complex and the terminal. The giant port of Ust-Luga, located on the Gulf of Finland about 170 km (110 miles) west of St. Petersburg, ships a wide range of goods, including oil and gas products, to international markets. Its facilities include one terminal for crude oil exports and three terminals for handling fuel shipments, including Novatek's terminal. According to LSEG data, 5.2 million tons of naphtha were shipped to Asia in 2023 from the port of Ust-Luga, of which 2.8 million tons originated from Novatek's terminal.

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