Novatek gas sales decline in H1

Russia’s Novatek, operator of the Yamal LNG project, said its gas sales volumes totalled 14.5 billion cubic meters (bcm) in the second quarter 2015 and 30.5 bcm in the first half 2015, representing a decrease of 8.5% as compared to the first half 2014.

The decrease was mainly due to substantial withdrawals of natural gas from the underground storages in the first half 2014 due to colder weather as compared to the first half 2015, Novatek said in a statement on Wednesday.

In the first half 2015, the total amount of natural gas recorded as inventory increased by 547 mmcm to 1,596 mmcm as compared to a decrease of 1,675 mmcm in the first half 2014.

In the second quarter and first half 2015, the company’s total revenues increased by 27% and 27.6%, respectively, compared to the corresponding periods of 2014.

The growth was mainly due to an increase in liquids sales volumes and net prices in Russian rouble terms, Novatek said.

LNG World News Staff; Image: Novatek