Novatek increased y-o-y hydrocarbon production by 4%

PAO Novatek, Moscow, increased total hydrocarbon production by 4% year-over-year with estimated production of 155.6 MMboe in third-quarter 2022.

Production in the quarter was comprised of 19.94 bcm of natural gas and 3.0 million tons of liquids (gas condensate and crude oil), a total increase of 6.1 MMboe from third-quarter 2021.

In third-quarter 2022, preliminary total natural gas sales volumes, including volumes of LNG sold, aggregated 16.19 bcm, representing a decrease of 2.3% as compared with the corresponding volumes in third-quarter 2021. The natural gas volumes sold in the Russian Federation were 14.26 bcm, representing a decrease of 4.1% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 1.93 bcm, representing an increase of 12.9%.

In third-quarter 2022, Novatek processed 3.2 million tons of unstable gas condensate at the Purovsky processing plant, representing an increase in processed volumes by 2.7% as compared with the corresponding period in 2021. Novatek processed 1.7 million tons of stable gas condensate at the Ust-Luga complex, which was 7.1% higher as compared with third-quarter 2021.

According to preliminary data in third-quarter 2022, petroleum product sales volumes aggregated 1,711 thousand tons, including 1,036 thousand tons of naphtha, 291 thousand tons of jet fuel, and 384 thousand tons of fuel oil and gasoil. The company sold 703 thousand tons of crude oil and 835 thousand tons of stable gas condensate.

As of Sept. 30, Novatek had 1.8 bcm of natural gas, including LNG, and 1,033 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.