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NOVATEK reports preliminary operating data for the fourth quarter and full year 2014
13 January 2015
Moscow, 13 January 2015. OAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the fourth quarter and full year 2014.
In the fourth quarter 2014, NOVATEK’s sales production totaled 16.27 billion cubic meters (bcm) of natural gas and 1,760 thousand tons of liquids (gas condensate and crude oil). The Company’s full year 2014 sales production aggregated 62.13 bcm of natural gas and 6,035 thousand tons of liquids, resulting in an increase in natural gas production by 0.91 bcm, or by 1.5% as compared with 2013, and an increase in combined liquids production by 1,284 thousand tons, or by 27.0%.
For the reporting period natural gas production was affected by the disposal of the Company’s equity share in Sibneftegas at the end of 2013. Excluding the natural gas produced by Sibneftegas, NOVATEK’s natural gas production increased by 9.6% in the fourth quarter 2014 and by 11.3% in the full year 2014 as compared with the respective periods in 2013.
NOVATEK processed 2,082 and 6,600 thousand tons of unstable gas condensate at the Purovsky Processing Plant, which represented a 58.8% and 35.7% increase as compared with the corresponding volumes in the fourth quarter and full year 2013, respectively.
In the fourth quarter 2014, NOVATEK processed 1,479 thousand tons of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex launched in June 2013, which is 52.8% higher than in the fourth quarter 2013. In the full year 2014, the Company processed 4,706 thousand tons of stable gas condensate at the Ust-Luga Complex, which is 2.5 times more than in 2013. Preliminary fourth quarter 2014 product sales volumes aggregated approximately 1,385 thousand tons, including 945 thousand tons of naphtha, 134 thousand tons of jet fuel, and 306 thousand tons of fuel oil and gasoil.
At 31 December 2014, NOVATEK had 1,017 million cubic meters of natural gas and 589 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.
NOVATEK’s hydrocarbon sales production
Information provided in this press release presents expected results of OAO NOVATEK operations in 4Q and full year 2014. 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 4Q and full year 2014. OAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, both due to new information obtained, any future events or for any other reasons.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global gas 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”.
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