NOVATEK increased production of gas and liquid hydrocarbons last year
8:50 20 февраля 2020
Категории: News in English
Production of natural gas and liquid hydrocarbons of NOVATEK, with consideration of the share of joint ventures in production, was increased by 8.6% and 2.9% in 2019, respectively, in comparison to 2018. Launching of LNG production at the second and third stages of the plant “Yamal LNG” in July and November 2018 and commissioning of oil deposits of Yaro-Yakhinskoye field of the joint venture Arktikgaz in December 2018 were the main factors that had a positive impact on production growth.
Natural gas sales of NOVATEK in 2019 amounted to 78 milliard 500 million cubic meters, increased by 8.8% in comparison to 2018, as a result of the increase in the amount of sales of LNG being purchased primarily from joint ventures “Yamal LNG” and “Cryogas-Vysotsk”. The amount of sales of liquid hydrocarbons in 2019 amounted to 16 million 400 thousand tonnes, increased by 3.4% in comparison to 2018. The information was given to the news agency “Sever-Press” in the press center of “NOVATEK”. The increase took place mainly due to the amount of crude oil being purchased from the joint venture Arktikgaz after oil deposits of Yaro-Yakhinskoye field were input to commercial operation in December 2018.
Capital investments of NOVATEK in 2019 increased by 68 milliard 500 million rubles (or 72.8%) up to 162 milliard 500 million rubles, in comparison to 94 milliard rubles in 2018. A significant part of the company’s investments in fixed assets was allocated to development of LNG projects – “Arctic LNG 2” till March 2019, the project on creation of the center for construction of large-capacity sea structures in Murmansk Oblast and the project “Obsky LNG”. Investments were also allocated to development of the Severo-Russkoye field, development of Beregovoye field and oil deposits of the East-Tarkosalinskoye and Yarudeyskoye fields, as well as exploration drilling.
The company NOVATEK is the largest independent producer of natural gas in Russia. In 2017 the company entered the international LNG market due to the successful launch of the project “Yamal LNG”. Extractive fields and license areas of NOVATEK are located mainly in Yamal-Nenets Autonomous Okrug, the world’s largest region in natural gas production.