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Novatek releases 2019 results

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LNG Industry,

Pao Novatek has reported its preliminary operating data for whole of 2019.

In 2019, Novatek’s hydrocarbon production totalled 590.1 million barrels of oil equivalent (boe), including 74.70 billion m3 of natural gas and 12.14 million t of liquids (gas condensate and crude oil), resulting in an increase in the total quantity of hydrocarbons produced by 41.0 million boe, or by 7.5% compared with 2018.

Preliminary natural gas sales volumes, including volumes of LNG sold, aggregated 78.45 billion m3, representing an increase of 8.8% as compared with the previous year. Natural gas volumes sold in the Russian Federation in 2019 were recorded at 65.65 billion m3, whereas LNG volumes sold on international markets amounted to 12.80 billion m3.

The company processed 10.80 million t of unstable gas condensate at the Purovsky Processing Plant – a decrease of 2.0% compared with 2018. Novatek processed 6.90 million t of stable gas condensate at the Ust-Luga Complex, representing a marginal decrease of 0.7% in volumes processed at the facility in 2019.

Preliminary 2019 petroleum product sales volumes aggregated 6.9 million t, including 4.51 million t of naphtha, 1.06 million t of jet fuel, and 1.40 million t of fuel oil and gasoil. Novatek sold 4.83 million t of crude oil and 1.73 million t of stable gas condensate.

As of 31 December 2019, Novatek had 1.2 billion m3 of natural gas, including LNG, and 604 000 t of stable gas condensate and petroleum products in storage or transit and recognised as inventory.

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