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    Novatek 9M Gas Sales Up, Production Down


Novatek's gas sales in the first nine months increased year on year, but its marketable gas production declined.

by: Mark Smedley

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Natural Gas News, Europe, Corporate, Exploration & Production, News By Country, Russia

Novatek 9M Gas Sales Up, Production Down

Russian independent gas and liquids producer Novatek reported gas sales of 47.02bn m³ in the first nine months of this year, 1.6% higher year on year, in its preliminary operating results October 6.

Novatek’s marketable hydrocarbons production for the latest nine-month period however were lower. They totaled 374.7mn barrels of oil equivalent (boe) –comprising 46.03bn m³ of natural gas (down 7.8%) and 8.8mn metric tons of liquids – which overall was 30.4mn boe (7.5%) less than in January-September 2016.

The company processed 8.585mn mt of unstable gas condensate at its Purovsky process plant, down 7.9%; and 5.247mn mt of stable gas condensate at its Ust-Luga complex, up 1.3%.

Quarterly figures were not released in Novatek’s press statement. The company said it had 1.38bn m3 of natural gas and 703,000 mt of stable gas condensate and oil product in storage or transit, and thus recognised as inventory as at September 30 2017. Novatek released 1H 2017 data in late July.


Mark Smedley