In Q2’22, NOVATEK’s hydrocarbon production stayed relatively flat as compared with the second quarter 2021
NOVATEK says its hydrocarbon production totaled 316.6 million boe in the first half 2022, including 40.89 bcm of natural gas and 5.8 million tons of liquids, resulting in an increase in total hydrocarbons produced by 1.8 million boe, or by 0.6% as compared to the first half 2021.
In the second quarter 2022, NOVATEK’s hydrocarbon production totaled 156.6million barrels of oil equivalent (boe), including 20.25 billion cubic meters (bcm) of natural gas and 2.8 million tons of liquids (gas condensate and crude oil) with total hydrocarbons production staying relatively flat as compared with the second quarter 2021.
In the second quarter 2022, preliminary total natural gas sales volumes, including volumes of LNG sold, aggregated 16.99 bcm, representing a decrease of 4.0% as compared with the corresponding volumes in the second quarter 2021. The natural gas volumes sold in the Russian Federation were 14.79 bcm, representing a decrease of 3.4% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 2.2 bcm, representing a decline of 8.3%.
In the second quarter and first half 2022, the Company processed 3.2 and 6.5 million tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing an increase in processed volumes by 1.7% and 4.3%, as compared with the corresponding periods in 2021. In the second quarter and first half 2022, NOVATEK processed 1.6 and 3.4 million tons, respectively, of stable gas condensate at the Ust-Luga Complex, which was 7.7% and 3.9% lower as compared with the corresponding periods in 2021.
According to preliminary data in the second quarter 2022, petroleum product sales volumes aggregated 1,199 thousand tons, including 666 thousand tons of naphtha, 217 thousand tons of jet fuel, and 316 thousand tons of fuel oil and gasoil. NOVATEK sold 762 thousand tons of crude oil and 905 thousand tons of stable gas condensate.
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”.