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LNG operator Novatek reports Q2 production

LNG Industry,


Novatek, the operator of the Yamal LNG project in Russia, has reported preliminary operating data of the second quarter and first half of 2014.

Gas and liquids

In Q2 2014, the company’s gross production totalled 15.59 billion m3 of natural gas and 1356 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in natural gas production by 2.6% and an increase in combined liquids production by 13.2%, compared with Q2 2013.

In the first half 2014, Novatek’s gross production totalled 31.30 billion m3 of natural gas and 2726 thousand tons of liquids (gas condensate and crude oil). The company produced almost the same level of natural gas as in the prior period, however increased the combined liquids production by 14.4%, as compared with the first half 2013.

Natural gas production

For the reporting periods, natural gas production was affected due to 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 9.9% in the first half 2014 and by 12.8% in Q2 2014 as compared with the respective periods in 2013.

Gas condensate

In the Q2 and H1 2014, Novatek processed 1430 and 2816 thousand tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing an increase in liquid volumes processed by 18.1% and 17.3%, as compared with the respective periods in 2013.

In the second quarter, the company processed 1037 thousand tons of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex launched in June 2013, and in the first half 2014, the company processed 2041 thousand tons of stable gas condensate at the Ust-Luga Complex.

Sales volume

Preliminary Q2 2014 product sales volumes totalled approximately 1090 thousand tons, including 890 thousand tons of naphtha, 102 thousand tons of jet fuel, and 98 thousand tons of heating oil and gasoil.

At 30 June 2014, Novatek had 1589 million m3 of natural gas and 357 thousand tons of stable gas condensate and its products in storage, transit or as inventory.


Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10072014/novatek_q2_2014_production_953/


 

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