Novatek’s Q2 production up, sales down

Russia’s independent LNG producer Novatek said on Tuesday that its natural gas production rose in the second quarter of this year.

Novatek said in its preliminary report the company’s gas production 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 firm sold 2.20 bcm of LNG on international markets, compared to 2.40 bcm in the second quarter last year.

Most Popular

McDermott bags Monkey Island LNG gig

Houston-based McDermott has secured a contract from Monkey Island LNG for its planned natural gas liquefaction facility in Cameron Parish, Louisiana.

GTT develops new LNG fuel tank

French LNG containment giant GTT has developed a new cubic-shaped LNG fuel tank for commercial vessels, with a particular focus on LNG-fueled container vessels.

Gazprom supplying gas from Kaliningrad FSRU

Gas giant Gazprom has completed tests at its 174,000-cbm FSRU Marshal Vasilevskiy off Russia's Kaliningrad, located between Lithuania and Poland. The firm said...

More News Like This

Russian LNG production down 4.2 percent in January-July

Russian liquefied natural gas (LNG) production dropped 4.2 percent in January-July this year compared to the same period in 2024, according to the Russian statistics agency Rosstat.

Novatek reports lower H1 profit

Russian LNG producer Novatek reported a 34 percent drop in its net profit in the first half of this year.

Russian LNG production continues to decline

Russian liquefied natural gas (LNG) production continued to decrease in June compared to last year, according to the Russian statistics agency Rosstat.

EU lifts sanctions against LNG carrier trio

The European Union has lifted sanctions against three ice-class liquefied natural gas (LNG) tankers operated by Japan's shipping giant MOL and intended to serve Novatek's Arctic LNG projects in Russia.