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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.

In 2019, NOVATEK’s liquids sales volumes reached 16,355 mt, or 3.4% more than in 2018. In 2019, our export sales volumes increased by 6.4% as compared to 2018 and amounted to 9,571 mt.

In 2019, our liquids sales revenues decreased to RR 437 billion, or by 2.9% as compared to 2018, mainly driven by lower global benchmark prices.

High-value added petroleum products from the Ust-Luga Complex accounted for a 43% share of our overall liquids sales volumes. We sold a total of 6,981 mt of stable gas condensate products, including 4,511 mt of naphtha, 1,068 mt of jet fuel and 1,402 mt of fuel oil and gasoil. The majority of petroleum products (97%) were exported. Export volumes were distributed as follows: Europe — 55%, Asia-Pacific — 26%, North America — 16% and Middle East — 3%. 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 2019. Condensate volumes purchased from Yamal LNG, were exported. Total stable gas condensate sales volumes amounted to 1,739 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 are sold to SIBUR. We sold 1,332 mt of light hydrocarbons in 2019.

Marketable LPG sales volumes totaled 1,445 mt in 2019, representing a 1.2% increase compared to 2018. LPG export sales volumes amounted to 591 mt or 41% of the total LPG sales volumes. Novatek Polska, 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 2019, large wholesale supplies to the domestic market stood at 692 mt, representing 81% of our domestic LPG sales. We also sold 162 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 82 retail gas stations and 11 gas filling stations.

Sales of crude oil in 2019 totaled 4,834 mt, which is 6,4% higher compared with 2018. We sold 61% of our crude oil volumes in the domestic market, with the remaining volumes exported to international markets.

Liquids Sales Volumes
FY 2018
FY 2019
Liquids Sales VolumesPetroleum products, mt
FY 20186,683
FY 20196,981
Liquids Sales VolumesLiquefied petroleum gas, mt
FY 20181,428
FY 20191,445
Liquids Sales VolumesCrude oil, mt
FY 20184,542
FY 20194,834
Liquids Sales VolumesLight hydrocarbons
FY 20181,248
FY 20191,332
Liquids Sales VolumesStable gas condensate
FY 20181,908
FY 20191,739
Liquids Sales VolumesOther
FY 201813
FY 201924
Liquids Sales VolumesTotal
FY 201815,822
FY 201916,355