• 2020 July 13 11:55

    NOVATEK reports preliminary operating data for the second quarter and first half 2020

    PAO NOVATEK reported today preliminary operating data for the second quarter and first half 2020.

    In the second quarter 2020, NOVATEK’s hydrocarbon production totaled 145.3million barrels of oil equivalent (boe), including 18.50 billion cubic meters (bcm) of natural gas and 2,920 thousand tons of liquids (gas condensate and crude oil), resulting in a decrease in total hydrocarbons produced by 3.7 million boe, or by 2.5% as compared with the second quarter 2019.

    NOVATEK’s hydrocarbon production totaled 295.5 million boe in the first half 2020, including 37.58 bcm of natural gas and 5,969 thousand tons of liquids, resulting in a slight decrease in total hydrocarbons produced by six hundred thousand boe, or by two-tenths of one percent as compared to the first half 2019.

    Preliminary second quarter 2020 natural gas sales volumes, including volumes of LNG sold, aggregated 16.90 bcm, representing a decrease of 9.9% as compared to the prior year. Natural gas volumes sold in the Russian Federation in the second quarter 2020 totaled 14.43 bcm, whereas LNG volumes sold on international markets amounted to 2.47 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 volumes sold on the spot market, and a corresponding increase of Yamal LNG direct sales under long-term contracts.

    In the second quarter and first half 2020, the Company processed 2,796 and 5,619 thousand tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing an increase in processed volumes by 3.7% and 4.2%, as compared with the corresponding periods in 2019. In the second quarter and first half 2020, NOVATEK processed 1,787 and 3,574 thousand tons, respectively, of stable gas condensate at the Ust-Luga Complex, which was 5.2% and 3.2% higher as compared with the corresponding periods in 2019.

    According to preliminary data in the second quarter 2020, petroleum product sales volumes aggregated 1,893 thousand tons, including 1,266 thousand tons of naphtha, 242 thousand tons of jet fuel, and 385 thousand tons of fuel oil and gasoil. NOVATEK sold 1,091 thousand tons of crude oil and 491 thousand tons of stable gas condensate.

    As at 30 June 2020, NOVATEK had 1.0 bcm of natural gas, including LNG, and 450 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

    PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly 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 15% 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».




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