Novatek’s gas sales rise in 2014

Russia’s Novatek, operator of the Yamal LNG project, said its sales production totaled 16.27 billion cubic meters of natural gas and 1,760 thousand tons of liquids in the fourth quarter of 2014.

The company’s full year 2014 sales production aggregated 62.13 bcm of natural gas and 6,035 thousand tons of liquids, resulting in an increase in natural gas production by 0.91 bcm, or by 1.5% as compared with 2013, and an increase in combined liquids production by 1,284 thousand tons, or by 27.0%.

For the reporting period, natural gas production was affected by the disposal of the company’s equity share in Sibneftegas at the end of 2013. Excluding the natural gas produced by Sibneftegas, Novatek’s natural gas production increased by 9.6% in the fourth quarter 2014 and by 11.3% in the full year 2014 as compared to the respective periods in 2013.

At 31 December 2014, Novatek had 1,017 million cubic meters of natural gas and 295 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

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Press Release; Image: Novatek