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    Novatek Output Up 13.1% In Q2

Summary

Novatek has Yamal LNG to thank for the output growth.

by: Joseph Murphy

Posted in:

Natural Gas & LNG News, Europe, Liquified Natural Gas (LNG), Corporate, Exploration & Production, News By Country, Russia

Novatek Output Up 13.1% In Q2

Novatek managed to increase its hydrocarbon output by 13.1% yr/yr in the second quarter of 2019, on the back of rising production at the Yamal LNG terminal.

The company extracted 1.64mn barrels of oil equivalent (boe)/day of oil, gas and condensate in April through June, up from 1.45mn boe/day in the same period last year. Gas production climbed 15.2%, arriving at 18.91bn m3, while liquids yields were up 3.7% at 3.035mn mt.

Novatek was able to ramp up production in 2018 after several years of decline, thanks to the launch of its majority-operated 16.5mn mt/yr Yamal LNG plant in late 2017.