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Novatek releases preliminary results for 2017

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LNG Industry,

In 2017, Novatek’s hydrocarbons production totaled 513.3 million barrels of oil equivalent (boe), including 63.39 billion m3 of natural gas and 11.8 million t of liquids (gas condensate and crude oil), resulting in a decrease in total hydrocarbons production by 33.7 million boe, or by 6.2% as compared with the twelve months 2016.

The company processed 11.5 million t of unstable gas condensate at the Purovsky Processing Plant, representing a 7.4% decrease in daily average processing volumes as compared with the corresponding volumes processed in the prior reporting period. Novatek processed 7.0 million t of stable gas condensate at the Ust-Luga Complex, representing a 0.9% increase in daily average volumes processed at the facility in 2017.

Preliminary 2017 petroleum product sales volumes aggregated 6.7 million t, including 4.1 million t of naphtha, 1.1 million t of jet fuel, and 1.5 million t of fuel oil and gasoil. Export sales of stable gas condensate amounted to 342 thousand t.

As at 31 December 2017, Novatek had 1.0 billion m3 of natural gas and 754 thousand t of stable gas condensate and petroleum products in storage or transit and recognised as inventory.

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