Press Releases and Events
NOVATEK reports preliminary operating data for fourth quarter and full year 2010
Moscow, 18 January 2011. OAO NOVATEK today reported preliminary production and operating data for the fourth quarter and full year 2010.
Gross production for the fourth quarter 2010 totaled 10.89 billion cubic meters (bcm) of natural gas and 996 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 1.91 bcm, or by 21.3%, and gross liquids production increased by 162 thousand tons, or by 19.4%, as compared with the corresponding gross production in the fourth quarter 2009.
In 2010, gross production for NOVATEK totaled 37.78 bcm of natural gas and 3,632 thousand tons of liquids. Natural gas production increased by 5.00 bcm, or by 15.3%, whereas gross liquids production increased by 583 thousand tons, or by 19.1%, as compared with the corresponding gross production in 2009.
During 2010, NOVATEK processed 3,401 thousand tons of unstable de-ethanized gas condensate at the Purovsky Processing Plant, of which 940 thousand tons was processed in the fourth quarter.
NOVATEK dispatched 39 tanker shipments of stable gas condensate for export in 2010 as compared to 36 tanker shipments in the corresponding period of 2009. At 31 December 2010, we had approximately 790 million cubic meters of natural gas and 264 thousand tons of stable gas condensate in transit or storage and recognized as inventory.
NOVATEK’s hydrocarbon production
Natural gas, bcm
Information provided in this press release presents expected results of OAO NOVATEK operations in the fourth quarter and full year 2010. 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 2010. ОАО 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.