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Novatek said in its preliminary report issued on Monday that the company’s natural gas sales reached 56.16 bcm during the nine-month period.
According to the firm, Novatek’s gas sales reached 16.87 cbm during the third quarter, which is practically equal to the prior year’s period.
The company did not break down the gas sales just to LNG, as it had done in the previous four quarterly reports.
Novatel reported a 47.3 percent rise in its LNG sales to 3.24 bcm in the second quarter of last year, while Novatek’s LNG volumes rose 60 percent to 2.97 bcm in the first quarter.
During 2023, Novatek’s gas sales rose 2.7 percent to 78.63 bcm.
Gas production up
Novatek’s gas production rose 2.1 percent to 62.30 bcm in the nine-month period.
Also, the company said its gas production rose 4.1 percent year-on-year to 20.57 bcm in the third quarter.
The company’s total hydrocarbon production rose 3.6 percent to 494.1 million barrels of oil equivalent (mmboe) in the January-September period, while it rose 5.5 percent to 163.4 mmboe in the third quarter.
As of September 30, 2024, Novatek had 1.7 bcm of natural gas, including LNG, and 1.7 mmt of stable gas condensate and petroleum products in storage or transit and recognized as inventory.
LNG projects
Novatek currently exports LNG via its 17.4 mtpa Yamal LNG plant and the mid-scale facility in Vysotsk with a nameplate capacity of 660,000 tons.
In addition, Novatek is working on the sanctioned Arctic LNG-2 export plant.
In August, Novatek delivered the second gravity-based structure platform from its yard near Murmansk to the site of the Arctic LNG 2 project located on the Gydan peninsula.
The company completed the second GBS despite sanctions by the US and the EU related to the Arctic LNG 2 project.
The first GBS left the Belokamenka yard in July last year and Novatek completed the installation on the underbase foundation on the seabed at the Utrenniy terminal in August.
The first and second GBS each have a capacity of about 6.6 mtpa.