AsiaCorporate

Russia’s Novatek says production, sales up in 2021

By LNG Prime Staff
Russia’s Novatek says production, sales up in 2021
Yamal LNG (Image: Novatek)

Russia’s independent LNG producer Novatek said Thursday that both its gas production and sales rose in 2021.

Novatek said in its preliminary report that its natural gas production reached 79.89 billion cubic meters, compared to 77.37 bcm in 2020.

The company’s total production of hydrocarbons rose by 2.9 percent as well to 626 million barrels of oil equivalent.

In addition, natural gas sales volumes increased slightly during the January-December period to 75.81 bcm. This marked a rise of 0.3 percent when compared to 75.62 bcm in the same period last year.

Novatek said its LNG sales decreased by 11.1 percent in 2021. The firm sold 7.94 bcm of LNG on international markets, compared to 8.93 bcm in the year before.

The company led by Russian billionaire Leonid Mikhelson attributed the decline to lower spot market sales from its Yamal LNG export terminal in the Russian Arctic.

The drop was due to the increase in Yamal LNG direct sales under long-term contracts and a corresponding decrease in Yamal LNG shareholders’ share, including Novatek’s share, of LNG volumes sold on the spot market, it said.

Most Popular

Vessels

Chinese yard nears completion of LNG bunkering vessel conversion

China’s Guangzhou Shipyard International has almost completed the conversion of the 28,000-cbm LNG carrier CNTIC VPower Global into an LNG bunkering vessel.
LNG as Fuel

TotalEnergies, CMA CGM get EU OK for LNG bunkering JV

French energy giant TotalEnergies and compatriot shipping firm CMA CGM have received approval from the European Commission to form a 50/50 logistics joint venture and operate an LNG bunkering supply solution at the Dutch port of Rotterdam.
LNG Terminals

Belgium’s Zeebrugge terminal to receive latest Golden Pass LNG cargo

The Fluxys-operated LNG import facility in the Belgian port of Zeebrugge is expected to receive another cargo from the Golden Pass LNG export terminal in Texas, owned by QatarEnergy and ExxonMobil, according to shipping data.

More News Like This

LNG Terminals

Russian LNG production up 10.7 percent in January-June

Russian liquefied natural gas (LNG) production rose 10.7 percent in the first six months of this year, according to the Russian statistics agency Rosstat.
Corporate

Novatek’s H1 net profit down

Russian LNG producer Novatek reported a 3.1 percent drop in its net profit in the first half of this year.
Contracts and Tenders

TotalEnergies to complete Arctic LNG 2 stake sale to Novatek in near term, CEO says

French energy giant TotalEnergies expects to complete the sale of a 10 percent stake in the Arctic LNG 2 project to Russian LNG exporter Novatek in the near term, according to TotalEnergies CEO Patrick Pouyanne.
Corporate

Novatek’s gas sales slightly up in Q2

Russian LNG exporter Novatek reported a slight increase in its natural gas sales, including LNG, in the second quarter of this year.