PAO Novatek’s first-quarter 2020 hydrocarbon production totaled 150.2 MMboe, including 19.08 billion cu m (bcm) of natural gas and 3,048 thousand tons of liquids (gas condensate and crude oil), an increase in total hydrocarbons produced of 3.1 million boe, or 2.1% as compared with first-quarter 2019. Preliminary natural gas sales volumes, including volumes of LNG sold, aggregated 20.69 bcm, a decrease of 6.8% compared with the prior year period.
Natural gas volumes sold in the Russian Federation in first-quarter 2020 were 18.24 bcm. LNG sold in international markets amounted to 2.45 bcm. The decrease in sales volumes on international markets was due to the decrease of Yamal LNG shareholders’ share, including Novatek’s share, of LNG sales on the spot market, and a corresponding increase of Yamal LNG direct sales under long-term contracts. Novatek also reported that it is slightly off schedule for the end-2022 opening of its 19.8 million tonne/year Arctic LNG 2 plant.
The company processed 2,823 thousand tons of unstable gas condensate at it Purovsky processing plant, an increase of 4.8% compared with the corresponding volumes processed in the year-prior reporting period. Novatek processed 1,787 thousand tons of stable gas condensate at its Ust-Luga complex, an increase of 1.2%.
According to preliminary first-quarter 2020 data, petroleum product sales volumes totaled 1,696 thousand tons: 1,040 thousand tons of naphtha, 302 thousand tons of jet fuel, and 354 thousand tons of fuel oil and gasoil. Novatek sold 1,164 thousand tons of crude oil and 414 thousand tons of stable gas condensate.
As at Mar. 31, Novatek had 0.3 bcm of natural gas, including LNG, and 620 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.