Core Insights - Novatek has rerouted approximately 70,000 metric tons of gas condensate to the Black Sea port of Novorossiisk due to a shutdown at its Ust-Luga gas condensate complex [1] - The shutdown was caused by a drone attack on August 24, which ignited a fire at the Ust-Luga facility, incapacitating all operations [2] - Although partial operations resumed later in August, two of the three processing units at Ust-Luga remain offline, limiting the facility's ability to refine condensate into key derivative fuels [2] Company Operations - With Ust-Luga down, Novatek has resumed exporting raw condensate and is seeking alternative routes for shipments [3] - A shipment of around 140,000 tonnes was loaded on September 16, with half of that cargo being redirected condensate blended with crude from CenGeo [3] Market Impact - Observers are monitoring the speed at which Novatek can restore its Ust-Luga units and whether other export hubs like Novorossiisk can handle sustained flows [4] - Oil prices are fluctuating, with Brent crude trading at $67.42 and West Texas Intermediate (WTI) at $63.58, as traders assess U.S. economic data against the potential loss of Russian oil from the market [5]