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NOVATEK reports preliminary operating data for nine months 2016

Moscow, 7 October 2016. OAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the nine months 2016.

NOVATEK’s marketable production totaled 49.95 billion cubic meters (bcm) of natural gas and 9,387 thousand tons of liquids (gas condensate and crude oil), resulting in a slight decrease in natural gas production by 150 million cubic meters, or by 0.3%, and an increase in combined liquids production by 2,852 thousand tons, or by 43.6% as compared with the nine months 2015.

The Company processed 9,356 thousand tons of unstable gas condensate at the Purovsky Processing Plant, which represented a 7.6% increase as compared with the corresponding volumes processed in the nine months 2015.

NOVATEK processed 5,197 thousand tons of stable gas condensate at the Ust-Luga Complex, which was 3.0% higher than the volumes processed at the facility in the nine months 2015. Preliminary nine months 2016 petroleum product sales volumes aggregated 5,211 thousand tons, including 3,247 thousand tons of naphtha, 774 thousand tons of jet fuel, and 1,190 thousand tons of fuel oil and gasoil. Export sales of stable gas condensate amounted to 1,069 thousand tons.

As at 30 September 2016, NOVATEK had 2.46 bcm of natural gas and 426 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK’s marketable hydrocarbon production including share in production of joint ventures
 
9M 2015
9M 2016
Change,%
Natural gas, bcm
50.10
49.95
-0.3%
Liquids, thousand tons
6,535
9,387
43.6%

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 Information provided in this press release presents expected results of OAO NOVATEK operations in the nine months 2016. 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 nine months 2016. OAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, both 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. Upstream activities of the Company’s subsidiaries and joint ventures 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.