Novatek’s gas production up in 2015

Novatek, the operator of the Yamal LNG project, reported a fourth quarter 2015 natural gas production of 17.8 billion cubic meters, 9.4 percent up on the same period in 2014.

During the whole year, Novatek’s natural gas production rose 9.3 percent from 62.13 bcm in 2014 to 67.91 bcm in 2015, Russian independent gas producer said in its report.

Besides natural gas, Novatek produced 2,559 thousand tons of liquids (gas condensate and crude oil) in the fourth quarter 2015 and 9,094 thousand tons of liquids during the whole year representing an increase of 45.3 percent and 50.7 percent, respectively, compared to the same periods in 2014.

Novatek processed 3,322 and 12,021 thousand tons of unstable gas condensate at the Purovsky processing plant, which represented a 59.6 percent and 82.1 percent increase as compared with the corresponding volumes in the fourth quarter and full year 2014, respectively.

In the fourth quarter and full year 2015, Novatek processed 1,681 and 6,727 thousand tons, respectively, of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex, which is 13.7 percent and 42.9 percent higher as compared with the respective periods in 2014.

As at 31 December 2015, Novatek had 1.29 bcm of natural gas and 656 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

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LNG World News Staff

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