Russian energy company Novatek’s NVTK repairs to damage caused by a fire at its complex in the Baltic port of Ust-Luga are likely to take several months, four market sources said on Thursday.

Debris from a destroyed Ukrainian drone started the fire at Novatek’s Ust-Luga terminal early on August 24, the regional governor said on Telegram.

Operations at the complex, including fuel loadings, were fully shut on Sunday, the sources added, speaking on condition of anonymity.

The market sources said repair of one of the most seriously damaged units could take up to six months. The second unit could be repaired within several weeks and the third could be restarted within days.

Novatek did not immediately reply to a request for comment.

The Ust-Luga complex has three processing units with a capacity of 3 million metric tons a year each and refines stable gas condensate into light and heavy naphtha, jet fuel, ship fuel component (fuel oil) and gasoil.

The complex also allows transshipment of stable gas condensate for exports.

According to the industry sources and Reuters estimates, Novatek could reduce its naphtha exports in September by 300,000 tons and ship up to 400,000 tons of gas condensate instead.

In 2025, Novatek exported an average of about 420,000 tons of naphtha a month from Ust-Luga port to Asian countries – China, Malaysia, Singapore and Taiwan – according to LSEG data.

In January to June 2025, the complex processed 4.2 million tons of gas condensate, company data showed.
Source: Reuters