AsiaCorporate

Novatek’s gas production rises, LNG sales down

By Mirza Duran
Novatek’s gas production rises, LNG sales down
Novatek’s gas production rises, LNG sales down

Russia’s Novatek boosted its production in the first quarter of this year while the company’s sales decreased.

Novatek said Thursday that natural gas production rose by 2.2 percent year on year to 19.1 billion cubic metres.

The company’s production of oil and gas condensate increased in the January-March period by 2 percent to 3.05 million tonnes.

Preliminary natural gas sales volumes, including LNG, totaled 20.69 billion cubic meters, logging a decline of 6.8 percent year-on-year.

Novatek sold 2.45 billion cubic meters of LNG volumes on international markets.

Novatek attributed the decline to “the decrease of Yamal LNG shareholders’ share, including Novatek’s share, of LNG sales on the spot market”.

This was due to a “corresponding increase of Yamal LNG direct sales under long-term contracts”.

Novatek had 0.3 bcm of natural gas, including LNG, in storage or transit and recognized as inventory at the end of this quarter.

This also includes 620 thousand tons of stable gas condensate and petroleum products.

Most Popular

Contracts and Tenders

Worley clinches EPC gig for Venture Global’s CP2 LNG expansion project

Australian engineering firm Worley has signed a reimbursable engineering, procurement, and construction (EPC) contract for Venture Global’s CP2 LNG expansion project in Louisiana.
LNG Terminals

Jera Global Markets delivers its first LNG cargo to Senegal

Singapore-based LNG trader Jera Global Markets, a joint venture of Japan’s Jera and France’s EDF, has recently delivered its first liquefied natural gas (LNG) cargo to Senegal.
LNG Terminals

DET: Stade FSRU gets first LNG cargo

Germany’s LNG import terminal operator DET has received the first liquefied natural gas (LNG) cargo at its FSRU-based LNG import facility in Stade.

More News Like This

LNG Terminals

Russian LNG production up 15.2 percent in January-September

Russian liquefied natural gas (LNG) production rose 15.2 percent in January-September this year, according to the Russian statistics agency Rosstat.
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.