AsiaCorporate

Novatek says it will not release Q1 results

By LNG Prime Staff
Novatek says it will not release Q1 results
Yamal LNG (Image: Novatek)

Russian independent LNG exporter Novatek said on Friday it would not release its first-quarter financial results.

“Novatek has decided not to publish its financial statements and not to hold a teleconference with investors on the first quarter 2022 financial results,” the company said in a statement.

Novatek did not provide any additional information.

Earlier this month, Novatek said its gas production had reached 20.64 billion cubic meters in the January-March period, a rise of 2.4 percent when compared to last year.

On the other side, preliminary total natural gas sales volumes, including LNG volumes, dropped 0.9 percent to 21.23 bcm in the first quarter.

Novatek’s LNG sales decreased by 1 percent to 1.86 bcm.

The company operates the giant Yamal LNG project and is building the Arctic 2 LNG facility.

It previously expected to launch the first Arctic 2 LNG train in 2023, followed by the second and the third unit in 2024 and 2025, respectfully.

However, according to a report by Interfax on Thursday, Novatek’s chief Leonid Mikhelson said that this schedule might change due to challenges in implementing the project and following several sanctions from the EU and the US over the Russia-Ukraine war.

Most Popular

Contracts and Tenders

Venture Global seals new deals to support expansion of its power network

US LNG exporter Venture Global has entered into power and grid frame agreements with GE Vernova and Baker Hughes for up to 16 new, 720 MW power island units and associated power transformer equipment, supporting the continued expansion of its existing behind-the-meter, industrial power network that is not reliant on the grid.
Vessels

Hanwha Ocean, Posco plan to build LNG carrier with high-manganese steel tanks

South Korean shipbuilder Hanwha Ocean and steel producer Posco plan to build a liquefied natural gas (LNG) carrier equipped with high-manganese steel cargo tanks.
LNG Terminals

Venture Global gets approval to place first Plaquemines LNG phase in service

Venture Global’s Plaquemines LNG has secured approval from the US FERC to place Phase 1 of its LNG export plant in Louisiana into service.

More News Like This

Corporate

Novatek’s gas sales down in Q3

Russian LNG exporter Novatek reported lower natural gas sales, including LNG, in the third quarter this year than in the same period last year.
LNG Terminals

PV Gas in LNG supply talks with Novatek

Petrovietnam Gas, a unit of state-owned Petrovietnam, is in talks with Russian producer Novatek to buy liquefied natural gas (LNG) from the latter as part of its plans to diversify its LNG supply sources.
LNG Terminals

Russian LNG production up 13.7 percent in January-August

Russian liquefied natural gas (LNG) production rose 13.7 percent in January-August this year, according to the Russian statistics agency Rosstat.
Vessels

Arctic LNG 2 seeks $1 billion from Hanwha Ocean over terminated LNG carrier orders

Novatek-led Arctic LNG 2 is seeking approximately $1 billion in damages from South Korean shipbuilder Hanwha Ocean over terminated shipbuilding contracts for Arc7 ice-class LNG tankers.