AsiaCorporate

Novatek posts higher production but sales drop

By LNG Prime Staff
Novatek posts higher production but sales drop
Image: Novatek

Russia’s independent LNG producer Novatek has boosted gas production during the last year but the company’s sales declined.

Novatek said its 2020 natural gas production increased by 3.6 percent year-on-year to 77.37 billion cubic metres.

The company’s total production of hydrocarbons rose by 3.1 percent to 608.2 million barrels of oil equivalent.

Howevher, natural gas sales volumes, including LNG, declined 3.6 percent last year to 75.62 bcm.

In addition, Novatek said it sold 8.93 bcm of LNG on international markets, a drop of 30.2 percent when compared to the year before.

The company attributed the decline to lower spot market sales from its Yamal LNG export terminal in the Russian Arctic.

The drop was due to the decrease of Yamal LNG shareholders’ share, including Novatek’s share, of volumes sold on the spot market, and a corresponding increase of Yamal direct sales under long-term contracts, it said.

Most Popular

Vessels

Hudong-Zhonghua kicks off construction on first QC-Max LNG carrier

Chinese shipbuilder Hudong-Zhonghua has officially started building the first ultra-large QC-Max LNG carrier as part of the massive QatarEnergy shipbuilding program. The shipbuilder says this is the world's largest LNG carrier.
Vessels

Asyad Shipping and MOL sell steam LNG carrier

Oman's Asyad Shipping and Japan's MOL have sold their jointly-owned 2001-built steam liquefied natural gas carrier, Sohar LNG.
LNG Terminals

Duo competing to win New Zealand LNG terminal deal

New Zealand has shortlisted two providers to deliver its first liquefied natural gas (LNG) import terminal.

More News Like This

Contracts and Tenders

Russia’s Novatek to buy Arctic LNG 2 stake from TotalEnergies

A unit of Russian LNG exporter Novatek has received Russian approval to buy a 10 percent stake in the Arctic LNG 2 project from French energy giant TotalEnergies, according to a presidential decree.
LNG Terminals

Russia boosts LNG production in April

Russian liquefied natural gas (LNG) production rose 10.4 percent in April this year compared to the same month in 2025, according to the Russian statistics agency Rosstat.
LNG Terminals

Russia’s Novatek, Vietnam’s EVN talk LNG-to-power projects

Russian LNG producer Novatek is interested in cooperating with Vietnam’s power utility EVN to develop LNG-to-power projects in Vietnam.
LNG Terminals

Russia boosts LNG production in March

Russian liquefied natural gas (LNG) production rose 13.3 percent in March this year compared to the same month in 2025, according to the Russian statistics agency Rosstat.