Novatek’s gas sales rose 2.7 percent in 2023

Russian LNG exporter Novatek reported a 2.7 percent rise in its natural gas sales, including LNG, in 2023.

Novatek said in its preliminary report issued on Wednesday that the company’s natural gas sales reached 78.63 bcm last year.

The company did not break down the gas sales just to LNG. This was the case in the third-quarter report as well.

Novatel reported a 47.3 percent rise in its LNG sales for the second quarter of the last year to 3.24 bcm, while in the first quarter Novatek’s LNG volumes rose 60 percent to 2.97 bcm.

As per Novatek’s gas production, it reached 82.39 bcm in 2023, a rise of 0.3 percent compared to 82.14 bcm in the year before, the company said.

The company’s total hydrocarbon production rose 0.9 percent to 644.7 million barrels of oil equivalent (mmboe).

Novatek currently exports LNG via its 17.4 mtpa Yamal LNG plant and the mid-scale facility in Vysotsk with a nameplate capacity of 660,000 tons

The firm is also building the 19.8 mtpa Arctic LNG 2 plant and in August completed the installation of the first of three trains which will serve the project.

According to reports in Russia, Novatek started production of LNG from this unit in December and expects to ship first cargoes soon.

However, the firm also issued force majeure on Arctic 2 LNG supplies to its customers due to US sanctions imposed on the project in November last year, the reports said.

Novatek is the LNG project’s operator with a 60 percent stake, France’s TotalEnergies owns 10 percent, while CNPC and CNOOC of China have 10 percent, each.

Japan Arctic LNG, a consortium of Mitsui & Co and Jogmec, owns a 10 percent stake in the project as well.

- Advertisements -

Most Popular

Golden Pass LNG to speed up pipeline construction

QatarEnergy and ExxonMobil are seeking approval from US energy regulators to increase the peak workforce to speed up the...

US FERC to decide on Venture Global’s CP2 LNG project

The US FERC is set to decide next week on Venture Global LNG's proposed CP2 LNG project in Louisiana. According...

Singapore LNG bunkering volumes hit new record

Singapore’s liquefied natural gas (LNG) bunkering sales reached a new record in May, according to Singapore’s Maritime and Port...

More News Like This

Samsung Heavy to sue Russia’s Zvezda over LNG carrier contract termination

South Korean shipbuilding giant Samsung Heavy Industries said it will sue Russian shipbuilder Zvezda after the latter decided to...

TotalEnergies CEO: Mozambique LNG restart is not a matter of costs

French energy giant TotalEnergies had "good" discussions with Mozambique LNG contractors and they agreed not to inflate the costs...

Russia’s Gazprom to buy Shell’s stake in Sakhalin LNG terminal operator

Russia has approved the sale of a 27.5 percent stake, previously owned by LNG giant Shell, in the new...

Novatek reports profit of about $5.1 billion in 2023

Russian LNG producer Novatek reported a net profit of about 463 billion rubles ($5.09 billion) in 2023. The company...