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BP, Koch To Buy Novatek Gas

BP and Koch are going to start buying gas condensate from Russian independent gas producer Novatek

BP, Koch To Buy Novatek Gas

BP and Koch are going to start buying gas condensate from Russian independent gas producer Novatek, after the latter opened a Siberian refinery and built a White Sea terminal to capitalize on rising output.

Novatek?s CEO Leonid Mikhelson said that the company start exporting gas condensate this month from a new $200 million refinery located near Arctic gas fields.

"In the coming years we'll expand the plant's capacity to 5 million tons" from 2 million tons now, Mikhelson told reporters on Friday. "This will allow us to take gas condensate from other companies for refining."

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