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.

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