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    Novatek reports modest climb in gas output in 2021

Summary

The bump in output follows Novatek's launch of the Kharbeyskoye field in west Siberia in November.

by: Joseph Murphy

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Novatek reports modest climb in gas output in 2021

Russia's Novatek achieved a 3.3% increase in its gas production to 79.89bn m3 in 2021, the company reported on January 13.

The bump in output follows Novatek's launch of the Kharbeyskoye field in west Siberia in November, projected to flow 3.6bn mof gas and 0.6mn metric tons of condensate annually.

Novatek's liquids output in 2021 was only 0.5% higher in 2021 at 12.299mn mt, bringing its overall hydrocarbon supply to 1.72mn barrels of oil equivalent/day, up 3.2%.

The amount of gas that Novatek sold in Russia was up 0.3% at 75.81bn m3, whereas international sales were down 11.1% at 7.94bn m3. But this was mainly because of higher sales under long-term contracts by Novatek's Yamal LNG joint venture that are not consolidated in the company's data, at the expense of direct sales by Novatek on a spot basis.

Kharbeyskoye is the third of the North-Russkiy fields that Novatek has commissioned. The final field in the cluster, yet to be brought online, is Dorogovskoye.