Novatek’s gas production, LNG sales rise in Q3

Russian LNG exporter Novatek said on Wednesday that its natural gas production rose in the third quarter of this year.

Novatek said in its preliminary report the company’s gas production had reached 19.94 billion cubic meters in July-September, a rise of 4.9 percent when compared to 19 bcm in the same period last year. Gas production dropped compared to 20.25 bcm in the prior quarter.

The company’s total production rose 4 percent year-on-year to 155.6 million barrels of oil equivalent.

Moreover, preliminary total natural gas sales volumes, including domestic sales, dropped by 2.3 percent to 16.19 bcm in the third quarter.

LNG sales rose by 12.9 percent during the quarter under review.

The firm sold 1.93 bcm of LNG on international markets, compared to 1.71 bcm in the third quarter last year.

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. This project has faced many difficulties due to the introduction of sanctions by the US and the European Union on Russian firms.

Novatek plans to launch the first Arctic LNG 2 GBS in late 2023.

- Advertisements -

Most Popular

ExxonMobil working on larger Rovuma LNG export project in Mozambique

US energy giant ExxonMobil has boosted the capacity of the planned Rovuma LNG onshore terminal in Mozambique and is...

Sempra takes FID on Port Arthur LNG project

US LNG player Sempra Infrastructure, a unit of Sempra, has taken a final investment decision for the first phase...

Excelerate to buy FSRU from Maran Gas

US floating LNG player Excelerate Energy plans to exercise an option to buy the 2020-built FSRU Sequoia from Greece’s...

More News Like This

Novatek delists from London Stock Exchange

Russian LNG exporter Novatek said on Tuesday it had requested to cancel the listing of its depositary receipts from...

Novatek inks deal to supply LNG to India’s Deepak Fertilisers

Russian LNG exporter Novatek said it had signed a non-binding memorandum of understanding with India's Deepak Fertilisers and Petrochemicals...

Novatek’s gas production, LNG sales up in 2022

Russian LNG exporter Novatek reported higher natural gas production and LNG sales in 2022. Novatek said in its preliminary report...

Japan’s MOL to continue shipping Russian LNG, CEO says

Japan's MOL will continue to ship liquefied natural gas from Russian LNG export plants, according to the company's CEO...