PAO NOVATEK has reported preliminary operating data for the twelve months 2017.
In 2017, NOVATEK’s hydrocarbons production totaled 513.3 million barrels of oil equivalent (boe), including 63.39 billion cubic meters (bcm) of natural gas and 11,772 thousand tons of liquids (gas condensate and crude oil), resulting in a decrease in total hydrocarbons production by 33.7 million boe, or by 6.2% as compared with the twelve months 2016.
Preliminary natural gas sales volumes, including LNG, aggregated 65.01 bcm, which was 0.5% higher compared with the twelve months 2016. In December 2017, after the commencement of LNG production at the first train of Yamal LNG project, NOVATEK sold its first cargo of LNG.
The Company processed 11,445 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing a 7.4% decrease in daily average processing volumes as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 6,961 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a 0.9% increase in daily average volumes processed at the facility in 2017.
Preliminary 2017 petroleum product sales volumes aggregated 6,743 thousand tons, including 4,102 thousand tons of naphtha, 1,121 thousand tons of jet fuel, and 1,520thousand tons of fuel oil and gasoil. Export sales of stable gas condensate amounted to 342 thousand tons.
As at 31 December 2017, NOVATEK had 1.0 billion cubic meters of natural gas and 754 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.
PAO NOVATEK is one of the largest independent natural gas producers in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 16% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».