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 the company’s gas production had reached 82.14 billion cubic meters in January-December, a rise of 2.8 percent when compared to 79.89 bcm in the year before.

The company’s total production rose 2 percent year-on-year to 638.9 million barrels of oil equivalent.

Moreover, preliminary total natural gas sales volumes, including domestic sales, rose by 1 percent to 76.65 bcm in 2022 while LNG sales rose by 6.3 percent.

The firm sold 8.45 bcm of LNG on international markets, compared to 7.95 bcm in 2021.

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 Russia and Russian firms.

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

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