Novatek has reported a 2.2% increase in natural gas production to 16.51 billion cubic metres (bcm) in the first quarter 2018. The company’s hydrocarbons production totalled 132.5 million barrels of oil equivalent (boe), an increase in production by 2 million boe, or 1.5% compared with the first quarter 2017.

Preliminary natural gas sales volumes, including LNG, aggregated 20.26 bcm, which was 8% higher compared with the corresponding period in 2017. The LNG sales volumes on international markets in the first quarter 2018 amounted to 0.96 bcm.

The company processed 2,762 thousand tonnes of unstable gas condensate at the Purovsky Processing Plant, representing a 5.1% decrease as compared with the corresponding volumes processed in the prior reporting period. Novatek processed 1,773 thousand tonnes of stable gas condensate at the Ust-Luga Complex, representing a 0.3% increase in volumes processed at the facility in the first quarter 2018.

Preliminary first quarter 2018 petroleum product sales volumes aggregated 1,566 thousand tonnes, including 943,000 tonnes of naphtha, 253,000 tonnes of jet fuel, and 370,000 tonnes of fuel oil and gasoil.

As at 31 March 2018, Novatek had 0.05 bcm of natural gas and 893,000 tons of stable gas condensate and petroleum products in storage or transit and recognised as inventory.

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11th Apr 2018

11th April 2018