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Liquids Sales

NOVATEK sells liquid hydrocarbons (stable gas condensate, petroleum products, light hydrocarbons, LPG and crude oil) domestically and internationally. We strive to respond quickly to changing market conditions by optimizing the customer base and supply geography, as well as developing and maintaining our own logistics infrastructure.

NOVATEK sells liquid hydrocarbons (stable gas condensate, petroleum products, light hydrocarbons, LPG and crude oil) domestically and internationally. We strive to respond quickly to changing market conditions by optimizing our customer base and supply geography, as well as developing and maintaining an efficient and profitable logistics liquids infrastructure.

In 2020, NOVATEK’s liquids sales volumes reached 16,387 mt, or 0.2% more than in 2019. In 2020, our export sales volumes decreased by 3% as compared to 2019 and amounted to 9,269 mt.

In 2020, our liquids sales revenues decreased to RR 341 billion, or by 22.1% as compared to 2019, mainly driven by lower global benchmark prices.

High-value added petroleum products from the Ust-Luga Complex accounted for a 41% share of our overall liquids sales volumes. We sold a total of 6,773 mt of stable gas condensate products, including 4,294 mt of naphtha, 1,061 mt of jet fuel and 1,418 mt of fuel oil and gasoil. The majority of petroleum products (97%) were exported. Export volumes were distributed as follows: Europe – 49%, Asia-Pacific – 34%, North America – 13% and Middle East - 4%. Most of our heavy naphtha was exported to Asia Pacific markets, light naphtha – to Northwest Europe and North America, and jet fuel, gasoil and fuel oil – to Northwest Europe.

Export and domestic sales of stable gas condensate continued in 2020. Condensate volumes purchased from Yamal LNG, were exported. Total stable gas condensate sales volumes amounted to 2,169 mt.

A portion of light hydrocarbons produced at the Purovsky Plant is processed on tolling terms at SIBUR’s Tobolsk Petrochemical Complex into marketable LPG, which is then delivered to NOVATEK’s customer base, while the rest of the light hydrocarbons volumes sold to SIBUR. We sold 1,591 mt of light hydrocarbons in 2020.

Marketable LPG sales volumes totaled 1,368 mt in 2020, representing a 5% decrease compared to 2019. LPG export sales volumes amounted to 568 mt or 42% of the total LPG sales volumes. Novatek Green Energy, our wholly owned LPG trading company in Poland, sold all of our LPG export volumes.

In the domestic market, our LPG is sold through large wholesale channels as well as through our retail network and small wholesale stations. In 2020, large wholesale supplies to the domestic market stood at 632 mt, representing 79% of our domestic LPG sales. We also sold 168 mt of LPG via our retail network and small wholesale stations located mainly in the Chelyabinsk, Volgograd, Rostov and Astrakhan regions. As of the end of the year, sales were made through 85 retail gas stations and 7 gas filling stations.

Sales of crude oil in 2020 totaled 4,468 mt, which is 7.6% lower compared with 2019. We sold 65% of our crude oil volumes in the domestic market, with the remaining volumes exported to international market.