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NOVATEK reports preliminary operating data for 12 months ended 31 December 2018

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LNG Industry,

PAO NOVATEK has released a statement reporting its preliminary operating data for the 12 months ended 31 December 2018.

Last year, the company reports that its hydrocarbon production totalled 548.4 million boe, including 68.81 billion m3 of natural gas and 11 800 thousand tonnes of liquids (gas condensate and crude oil). This has resulted in an increase in total hydrocarbons produced by 35.1 million boe (6.9%) compared to the 12 months ended 31 December 2017.

According to the statement, preliminary natural gas sales volumes, including volumes of LNG sold, aggregated 72.12 billion m3. This represents an increase of 10.9% compared to the 12 months ended 31 December 2017. NOVATEK claims that the volumes of natural gas sold in the Russian Federation in 2018 were 66.08 billion m3, and the volumes of LNG sold on international markets totalled 6.04 billion m3. Sales volumes of LNG in 2017 were 0.1 billion m3 as Yamal LNG commenced LNG shipments on 8 December 2017.

The company processed 11 017 thousand tonnes of unstable gas condensate at the Purovsky Processing Plant, representing an 3.7% decrease as compared with the corresponding volumes in the previous reporting period. NOVATEK claims that it processed 6949 thousand tonnes of stable gas condensate at the Ust-Luga Complex, representing a 0.2% decrease in volumes processed at the facility last year.

NOVATEK also claims that preliminary 2018 petroleum product sales volumes aggregated 6682 thousand tonnes, including 4185 thousand tonnes of naphtha, 1082 thousand tonnes of jet fuel, and 1415 thousand tonnes of fuel oil and gasoil.

As of 31 December last year, NOVATEK claims that it had 2.2 billion m3 of gas, including LNG, as well as 854 thousand tonnes of stable gas condensate and petroleum products, in storage or transit and recognised as inventory.

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