NOVATEK increased its hydrocarbon extraction by 2.1% in the first quarter of the year

The company “NOVATEK” informed about the preliminary production figures for the first quarter of 2020. For three months hydrocarbon extraction made 150 million 200 thousand barrels of oil equivalent, including 19 milliard 80 million cubic meters of natural gas and 3048 thousand tonnes of liquid hydrocarbons (gas condensate and oil). In comparison to the first quarter of 2019, hydrocarbon extraction grew by 3 million 100 thousand barrels of oil equivalent or by 2.1%.

According to the preliminary data, the amount of natural gas sales, including LNG, made 20 milliard and 690 million cubic meters. It is 6.8% lower than the same indicator for the first quarter of last year. 18 milliard and 240 million cubic meters of natural gas were sold in the Russian Federation. The information was given to the news agency “Sever-Press” in the press service of “NOVATEK”. The amount of LNG sales on international markets made 2 milliard and 450 million cubic meters. The decrease in sales amounts on international markets is connected with the decrease in the share of sales of “Yamal LNG” on the spot market through shareholders, including NOVATEK, and at the same time with the increase in the share of direct sales of “Yamal LNG” under long-term contracts.

The amounts of processing of de-ethanized gas condensate at the Purovsky Plant grew by 4.8% and made 2823 thousand tonnes. The Ust-Luga complex processed 1787 thousand tonnes of stable gas condensate, the amount of processing grew by 1.2% in comparison to the same period in 2019.

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”. The company created in 1994 is busy with prospecting, extracting, processing and selling of gas and liquid hydrocarbons. Extractive fields and license areas of NOVATEK are located primarily in Yamal-Nenets Autonomous Okrug.