CorporateEurope

Novatek logs higher production, sales slightly down

By Mirza Duran
Novatek logs higher production, sales slightly down
Yamal LNG (Image: Novatek)

Russia’s independent LNG producer Novatek reported a rise in production while logging lower sales in the third quarter of this year.

Novatek said its natural gas production increased by 4.5 percent year-on-year to 19.13 billion cubic metres.

The Russian company’s total production of hydrocarbons in July-September rose by 3.6 percent to 150.4 million barrels of oil equivalent.

Onthe other side, natural gas sales volumes, including LNG, declined 0.8 percent in the quarter to 16.56 bcm.

Novatek said it sold 2.20 bcm of LNG on international markets, a drop of 27.6 percent when compared to the third quarter last year.

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

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

Most Popular

LNG Terminals

Glenfarne’s Texas LNG seeks DOE extension

US energy firm Glenfarne is seeking an extension from the US Department of Energy to extend the non-FTA export start deadline for its planned 4 mtpa Texas LNG export terminal in the port of Brownsville.
Contracts and Tenders

Cheniere inks long-term LNG supply deals with QatarEnergy

US LNG exporter Cheniere has entered into long-term liquefied natural gas (LNG) sale and purchase agreements with state-owned LNG giant QatarEnergy to supply 4 million tonnes per annum (mtpa) of LNG through 2054.
Contracts and Tenders

Petrovietnam units plan new LNG-to-power project

PV Power and PV Gas, units of state-owned Petrovietnam, signed cooperation agreements to secure gas supplies for power plants in southwestern Vietnam and explore developing an integrated liquefied natural gas (LNG) project in the northern port city of Hai Phong.

More News Like This

Vessels

Chinese yard wraps up maintenance work on Dynagas LNG carrier

China’s Huarun Dadong yard has completed repair work on the Arc7 ice-class LNG tanker Nikolay Zubov, operated by Greece's Dynagas.
Corporate

Novatek’s gas sales down in Q3

Russian LNG exporter Novatek reported lower natural gas sales, including LNG, in the third quarter this year than in the same period last year.
LNG Terminals

PV Gas in LNG supply talks with Novatek

Petrovietnam Gas, a unit of state-owned Petrovietnam, is in talks with Russian producer Novatek to buy liquefied natural gas (LNG) from the latter as part of its plans to diversify its LNG supply sources.
LNG Terminals

Russian LNG production up 13.7 percent in January-August

Russian liquefied natural gas (LNG) production rose 13.7 percent in January-August this year, according to the Russian statistics agency Rosstat.