- Press Center
- Investor Relations
- Sustainable Development
In the first quarter 2020, NOVATEK’s hydrocarbon production totaled 150.2 million barrels of oil equivalent (boe), including 19.08 billion cubic meters (bcm) of natural gas and 3,048 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 3.1 million boe, or by 2.1% as compared with the first quarter 2019.
Preliminary natural gas sales volumes, including volumes of LNG sold, aggregated 20.69 bcm, representing a decrease of 6.8% as compared with the prior year period. Natural gas volumes sold in the Russian Federation in the first quarter 2020 were 18.24 bcm, whereas LNG volumes sold on international markets amounted to 2.45 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 sales on the spot market, and a corresponding increase of Yamal LNG direct sales under long-term contracts.
The Company processed 2,823 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 4.8% as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 1,787 thousand tons of stable gas condensate at the Ust-Luga Complex, representing an increase of 1.2% in volumes processed at the facility in the first quarter 2020.
According to preliminary data in the first quarter 2020, petroleum product sales volumes aggregated 1,696 thousand tons, including 1,040 thousand tons of naphtha, 302 thousand tons of jet fuel, and 354 thousand tons of fuel oil and gasoil. NOVATEK sold 1,164 thousand tons of crude oil and 414 thousand tons of stable gas condensate.
As at 31 March 2020, NOVATEK had 0.3 bcm of natural gas, including LNG, and 620 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.
NOVATEK’s hydrocarbon production including share in production of joint ventures
Since 2016 natural gas production includes gas volumes consumed in oil and gas production and development activities (primarily, as fuel gas).
Information provided presents expected results of PAO NOVATEK operations in first quarter 2020. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on NOVATEK’s operational results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in first quarter 2020. PAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, due to new information obtained, any future events or for any other reasons.