Novatek logs higher Q2 LNG sales

Russian LNG exporter Novatek reported a 47.3 percent rise in its liquefied natural gas sales for the second quarter of this year.

Novatek said in its preliminary report the company’s LNG volumes sold on international markets rose to 3.24 bcm compared to 2.20 bcm in the second quarter last year.

In the previous quarter, Novatek’s LNG volumes rose 60 percent to 2.97 bcm.

The company’s preliminary total natural gas sales volumes, including domestic sales, rose by 7.7 percent to 18.31 bcm in the second quarter.

Gas sales of 15.06 bcm in Russia rose by 1.8 percent, Novatek said.

Novatek’s gas production reached 20.35 bcm in the period under review, a rise of 0.5 percent when compared to 20.25 bcm in the year before, it said.

The company’s total production rose 1.5 percent to 158.9 million barrels of oil equivalent

Novatek currently exports LNG via its Yamal LNG plant and the mid-scale facility in Vysotsk.

The firm is also building the Arctic LNG 2 plant and plans to launch the first Arctic LNG 2 GBS by the end of this year.

Novatek is also working to develop the Murmansk LNG project and recently obtained a Russian patent for its proprietary technology called “Arctic Mix” for large-scale natural gas liquefaction using mixed refrigerants.

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