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NOVATEK Reports Preliminary Operating Data for the Second Quarter and First Half 2019
Mark Gyetvay, Deputy Chairman of the Management Board
Alexander Nazarov, Head of IR
+7 (495) 730-6013
Maria Dokuchaeva, Press-secretary
+7 (495) 721-2207
12 July 2019
Moscow, 12 July 2019. PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the second quarter and first half 2019.
In the second quarter 2019, NOVATEK’s hydrocarbon production totaled 149.0 million barrels of oil equivalent (boe), including 18.91 billion cubic meters (bcm) of natural gas and 3,035 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 17.2 million boe, or by 13.1% as compared with the second quarter 2018.
In the first half 2019, NOVATEK’s hydrocarbon production totaled 296.1 million boe, including 37.57 bcm of natural gas and 6,022 thousand tons of liquids, resulting in an increase in total hydrocarbons produced by 31.8 million boe, or by 12.0% as compared to the first half 2018.
In the second quarter and first half 2019, the Company processed 2,697 and 5,390 thousand tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing a decrease in processed volumes by 3.3% and 2.9%, as compared with the corresponding periods in 2018. In the second quarter and first half 2019, NOVATEK processed 1,698 and 3,463 thousand tons, respectively, of stable gas condensate at the Ust-Luga Complex, which was 4.3% and 2.4% lower as compared with the corresponding periods in 2018.
Preliminary second quarter 2019 natural gas sales volumes, including volumes of LNG sold, aggregated 18.74 bcm, representing an increase of 23.7% as compared with the corresponding period in 2018. Natural gas volumes sold in the Russian Federation in the second quarter 2019 were 15.11 bcm, whereas volumes of LNG sold on international markets amounted to 3.63 bcm.
According to preliminary data in the second quarter 2019, petroleum product sales volumes aggregated 1,841 thousand tons, including 1,221 thousand tons of naphtha, 278 thousand tons of jet fuel, and 342 thousand tons of fuel oil and gasoil. NOVATEK sold 1,214 thousand tons of crude oil and 396 thousand tons of stable gas condensate.
As at 30 June 2019, NOVATEK had 1.4 billion cubic meters of natural gas, including LNG, and 629 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
Natural Gas Sales Volumes, bcm
Information provided in this press release presents expected results of PAO NOVATEK operations in the second quarter and first half 2019. 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 the second quarter and first half 2019. 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.
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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