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NOVATEK Reports Preliminary Operating Data for Twelve Months 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
15 January 2020
Moscow, 15 January 2020. PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the twelve months ended 31 December 2019.
In 2019, NOVATEK’s hydrocarbon production totaled 590.1 million barrels of oil equivalent (boe), including 74.70 billion cubic meters (bcm) of natural gas and 12,148 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 41.0 million boe, or by 7.5% as compared with the twelve months 2018.
Preliminary natural gas sales volumes, including volumes of LNG sold, aggregated 78.45 bcm, representing an increase of 8.8% as compared with the prior year period. Natural gas volumes sold in the Russian Federation in 2019 were 65.65 bcm, whereas LNG volumes sold on international markets amounted to 12.80 bcm.
The Company processed 10,802 thousand tons of unstable gas condensate at the Purovsky Processing Plant, representing a decrease of 2.0% as compared with the corresponding volumes processed in the prior reporting period. NOVATEK processed 6,902 thousand tons of stable gas condensate at the Ust-Luga Complex, representing a marginal decrease of 0.7% in volumes processed at the facility in 2019.
Preliminary 2019 petroleum product sales volumes aggregated 6,981 thousand tons, including 4,511 thousand tons of naphtha, 1,068 thousand tons of jet fuel, and 1,402 thousand tons of fuel oil and gasoil. NOVATEK sold 4,834 thousand tons of crude oil and 1,739 thousand tons of stable gas condensate.
As at 31 December 2019, NOVATEK had 1.2 bcm of natural gas, including LNG, and 604 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 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 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 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”.
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