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NOVATEK reports preliminary operating data for third quarter and nine months 2008
09 October 2008
Moscow, 9 October, 2008. OAO NOVATEK today reported preliminary production data for the third quarter and nine months 2008.
Gross production for the third quarter totaled 7.64 billion cubic meters of natural gas and 639 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 1.63 billion cubic meters, or by 27.1%, and gross liquids production increased by 8 thousand tons, or by 1.2%, as compared with the corresponding gross production in the third quarter 2007.
In the first nine months of 2008, gross production for NOVATEK totaled 22.83 billion cubic meters of natural gas and 1.88 million tons of liquids. Natural gas production increased by 1.92 billion cubic meters, or by 9.2%, whereas gross liquids production increased by 36 thousand tons, or by 2.0% as compared with the corresponding gross production in the first nine months of 2007.
In the third quarter and first nine months of 2008, NOVATEK processed 558 and 1,624 thousand tons of unstable gas condensate at the Purovsky Gas Condensate Processing Plant (Purovsky Plant).
Six out of seven planned tanker shipments were dispatched for export in the third quarter of 2008. The unloading of one tanker was postponed for October delivery due to infrastructure damage at the Port Arthur (USA) terminal inflicted by Hurricane Ike.
NOVATEK’s hydrocarbon production
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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