Novatek releases 2019 results

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.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/16012020/novatek-releases-2019-results/