Novatek Q1 Gas Output Up (Russia)

OAO NOVATEK of Russia said its Gross production for the first quarter totaled 14.66 billion cubic meters of natural gas and 1.08 million tons of liquids (gas condensate and crude oil).

Gross natural gas production increased by 1.23 billion cubic meters, or by 9.2%, and gross liquids production increased by 59 thousand tons, or by 5.8%, as compared with the corresponding gross production in the first quarter 2011, the company said in a statement.

In the first quarter 2012, NOVATEK processed 992.5 thousand tons of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.

The Company’s preliminary stable gas condensate export volumes amounted to 623 thousand tons for the first quarter 2012 as compared to 723 thousand tons in the corresponding period of 2011.