Novatek’s nine-month production up

Russia’s largest independent natural gas producer Novatekreported a 4.9 percent rise in production for the first nine months of the year. 

Novatek’s hydrocarbons production totaled 402.2 million barrels of oil equivalent (boe), including 50.31 billion cubic meters (bcm) of natural gas and 8,775 thousand tons of liquids, resulting in an increase in total hydrocarbons production by 18.9 million boe, as compared with the nine months 2017.

Preliminary natural gas sales volumes, including LNG, aggregated 51.0 bcm, which was 8.5 percent higher compared with the corresponding period in 2017.

The LNG sales volumes on international markets in the nine months 2018 amounted to 3.43 bcm, Novatek said.

The company processed 8,222 thousand tons of unstable gas condensate at the Purovsky processing plant, representing a 4.2 percent decrease as compared with the corresponding volumes processed in the prior reporting period.

Novatek processed 5,145 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a 1.9 percent decrease in volumes processed at the facility in the nine months of 2018.

Preliminary petroleum product sales volumes aggregated 5,146 thousand tons, including 3,230 thousand tons of naphtha, 791 thousand tons of jet fuel, and 1,125 thousand tons of fuel oil and gasoil.

As of September 30, 2018, Novatek had 2.4 bcm of natural gas, including LNG, and 645 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.