Photo: Image courtesy of Novatek

Novatek’s third-quarter production up

Novatek, Russia’s largest independent natural gas producer, reported an increase in total hydrocarbons production in the third quarter and the first months of 2019. 

In the third quarter of the year, Novatek’s production reached 145.2 million barrels of oil equivalent (boe) 5.2 percent above the volumes produced in the corresponding quarter last year, Novatek said in its report.

The total volumes included 18.31 billion cubic meters (bcm) of natural gas and 3,041 thousand tons of liquids (gas condensate and crude oil).

Novatek added in its report that the nine-month hydrocarbons production totaled 441.3 million boe, 9.7 percent above the corresponding period in 2018. Nine-month volumes included 55.88 bcm of natural gas and 9,063 thousand tons of liquids.

Preliminary third-quarter 2019 natural gas sales volumes, including LNG, aggregated 16.70 bcm, representing an increase of 7.1 percent as compared with the corresponding period in 2018. Natural gas volumes sold in the Russian Federation in the third quarter 2019 were 13.66 bcm, whereas volumes of LNG sold on international markets amounted to 3.04 bcm.

In the third quarter and nine months 2019, the company processed 2,622 and 8,012 thousand tons, respectively, of unstable gas condensate at the Purovsky processing plant, representing a decrease in processed volumes by 1.9 percent and 2.6 percent, as compared with the corresponding periods in 2018.

In the third quarter and nine months 2019, Novatek processed 1,656 and 5,119 thousand tons, respectively, of stable gas condensate at the Ust-Luga Complex, which was 3.6 percent higher and 0.5 percent lower as compared with the corresponding periods in 2018.

According to preliminary data in the third quarter 2019, petroleum product sales volumes aggregated 1,551 thousand tons, including 987 thousand tons of naphtha, 252 thousand tons of jet fuel, and 312 thousand tons of fuel oil and gasoil. Novatek sold 1,265 thousand tons of crude oil and 489 thousand tons of stable gas condensate.

As at 30 September 2019, Novatek had 1.8 bcm of natural gas, including LNG, and 738 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

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