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    Novatek 1H Production Up, Gas Sales Too

Summary

Production, and gas sales, both increased for Novatek in first half 2018.

by: Mark Smedley

Posted in:

Natural Gas News, Europe, Corporate, Exploration & Production, Import/Export, Infrastructure, LNG, News By Country, Russia

Novatek 1H Production Up, Gas Sales Too

Russian independent Novatek's first-half 2018 marketable hydrocarbons production of 264.3mn barrels of oil equivalent was up by 2.4% on last year, it said July 11. That equated to 1.46mn boe/d.

This year's figure included 32.93bn m3 natural gas, up 3.2%; and 5.864mn metric tons of liquids (gas condensate and crude oil) which were down by 0.4%.

Preliminary natural gas sales volume, including LNG were 35.42bn m3, up 6.9% year on year.

Its LNG sales on international markets in first half 2018 amounted to 1.61bn m3. Novatek-operated Yamal LNG began exports in December 2017; its equity stake in the venture is 50.1%.

Yamal LNG announced May 7 2018 that it had produced 2mn mt since opening five months earlier.