NOVATEK’s hydrocarbon production in 9M’2021 rose by 4.1% YoY
PAO NOVATEK reported today preliminary operating data for the third quarter and nine months 2021.
In the third quarter 2021, NOVATEK’s hydrocarbon production totaled 149.5 million barrels of oil equivalent (boe), including 19.0 billion cubic meters (bcm) of natural gas and 3.0 million tons of liquids (gas condensate and crude oil), resulting in an decrease in total hydrocarbons produced by 0.9 million boe, or by 0.5% as compared with the third quarter 2020.
In the nine months 2021, NOVATEK’s hydrocarbon production totaled 464.3 million boe, including 59.11 bcm of natural gas and 9.3 million tons of liquids, resulting in an increase in total hydrocarbons produced by 18.4 million boe, or by 4.1% as compared to the nine months 2020.
Preliminary natural gas volumes sold in the third quarter 2021 in the Russian Federation were 14.87 bcm, representing an increase of 3.6% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 1.71 bcm, representing a decline of 22.3%. The total natural gas sales volumes, including volumes of LNG sold, aggregated 16.58 bcm, representing an increase of 0.1% as compared with the third quarter 2020. The decrease attributable to volumes sold on international markets was mainly 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 in Yamal LNG direct sales under long-term contracts.
In the third quarter and nine months 2021, the Company processed 3.2 and 9.4 million tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing an increase in processed volumes by 7.3% and 9.7%, as compared with the corresponding periods in 2020. In the third quarter and nine months 2021, NOVATEK processed 1.6 and 5.2 million tons, respectively, of stable gas condensate at the Ust-Luga Complex, which was 1.6% and 0.9% lower as compared with the corresponding periods in 2020.
According to preliminary data in the third quarter 2021, petroleum product sales volumes aggregated 1,413 thousand tons, including 856 thousand tons of naphtha, 218 thousand tons of jet fuel, and 339 thousand tons of fuel oil and gasoil. NOVATEK sold 985 thousand tons of crude oil and 750 thousand tons of stable gas condensate.
At the 30 September 2021, NOVATEK had 1.8 bcm of natural gas, including LNG, and 713 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. The Company’s upstream activities 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”.
