Novatek’s nine-month production drops

Russia’s Novatek, the developer of the Yamal LNG project, reported a decrease in total hydrocarbons production by 30.4 million boe, or by 7.5 percent, as compared with the nine months 2016.

Novatek’s marketable hydrocarbons production totaled 374.7 million barrels of oil equivalent, including 46.03 billion cubic meters (bcm) of natural gas and 8,806 thousand tons of liquids (gas condensate and crude oil).

Preliminary natural gas sales volumes aggregated 47.02 bcm, which was 1.6 percent higher compared with the nine months 2016, Novatek’s report shows.

The company processed 8,585 thousand tons of unstable gas condensate at the Purovsky processing plant, representing a 7.9 percent decrease in daily average processing volumes as compared with the corresponding volumes processed in the prior reporting period.

Novatek processed 5,247 thousand tons of stable gas condensate at the Ust-Luga complex, representing a 1.3 percent increase in daily average volumes processed at the facility in the nine months 2017.

Preliminary petroleum product sales volumes aggregated 5,077 thousand tons, including 3,063 thousand tons of naphtha, 845 thousand tons of jet fuel, and 1,169 thousand tons of fuel oil and gasoil. Export sales of stable gas condensate totaled 260 thousand tons.

As at 30 September 2017, Novatek had 1.38 bcm of natural gas and 703 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.