Novatek says will not release Q2 results

Russian LNG exporter Novatek said on Wednesday it would not publish its second-quarter financial results.

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

The firm did not provide any additional information.

Novatek also did not release its first-quarter results.

Earlier this month, Novatek said its gas production had reached 20.25 billion cubic meters in April-June, a rise of 1.5 percent when compared to 19.95 bcm in the same period last year. Gas production dropped compared to 20.64 bcm in the prior quarter.

The company’s total production of hydrocarbons remained flat in the second quarter at 156.6 million barrels of oil equivalent.

On the other side, preliminary total natural gas sales volumes, including LNG volumes, dropped by 4 percent to 16.99 bcm in the second quarter.

Also, Novatek said its LNG sales decreased by 8.3 percent during the quarter under review.

The company operates the giant Yamal LNG project and the medium-scale plant in Vysotsk, and is building the Arctic 2 LNG facility.

Previously, Novatek’s executives provided detailed updates during the company’s quarterly calls regarding its LNG projects and other business.

However, since the start of the Russia-Ukraine war in February and the introduction of Western sanctions on Russian firms, Novatek rarely issues updates regarding its LNG projects.

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