Press Releases and Events
NOVATEK Reports Preliminary Operating Data for the Second Quarter and First Half 2025
Moscow, 11 July 2025. PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the second quarter and first half 2025.
In the second quarter 2025, NOVATEK’s hydrocarbon production totaled 167.6 million barrels of oil equivalent (mmboe), including 21.18 billion cubic meters (bcm) of natural gas and 3.44 million tons (mmt) of liquid hydrocarbons (gas condensate and crude oil), with the total hydrocarbons production increasing by 4.3 million boe or by 2.6% year-on-year.
NOVATEK’s hydrocarbon production totaled 336.7 million boe in the first half 2025, including 42.53 bcm of natural gas and 6.92 mmt of liquids, resulting in an increase in total hydrocarbons produced by 6.0 million boe, or by 1.8% as compared to the first half 2024.
Preliminary total natural gas sales volumes, including volumes of LNG sold, in the second quarter and first half 2025 aggregated 18.0 and 39.5 bcm, respectively, resulting in an increase of 1.1% and 0.5% as compared with the second quarter and first half 2024.
In the second quarter and first half 2025, the Company processed 3.2 and 6.6 million tons, respectively, of unstable gas condensate, representing an increase in processed volumes by 1.0% and 1.5%, as compared with the corresponding periods in 2024. In the second quarter and first half 2025, NOVATEK processed 2.0 and 4.2 million tons, respectively, of stable gas condensate, which was 13.5% and 33.6% higher as compared with the corresponding periods in 2024.
Preliminary total sales volumes of liquid hydrocarbons in the second quarter and first half 2025 aggregated 4.7 and 9.2 mmt, which was 18.7% and 11.8% higher than in the second quarter and first half 2024.
At 30 June 2025, NOVATEK had 0.9 bcm of natural gas, including LNG, and 1.3 mmt of stable gas condensate and petroleum products in storage or transit and recognized as inventory.
NOVATEK’s hydrocarbon production including share in the production of joint ventures
|
Q2 2025 |
Q2 2024 |
Change, % |
1H 2025 |
1H 2024 |
Change, % |
|
|
21.18 |
20.60 |
2.8% |
Natural gas, bcm |
42.53 |
41.73 |
1.9% |
|
3.44 |
3.37 |
2.2% |
Liquids, mmt |
6.92 |
6.83 |
1.4% |
|
167.6 |
163.3 |
2.6% |
Total hydrocarbons, mmboe |
336.7 |
330.7 |
1.8% |
|
1.84 |
1.79 |
2.6% |
Total hydrocarbons, mmboe per day |
1.86 |
1.82 |
2.4% |
***
Information provided in this press release represents expected results of PAO NOVATEK operations in the second quarter and first half 2025. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted results in the second quarter and first half 2025. 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 one of the largest independent natural gas producers 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. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, 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.