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.

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