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NOVATEK Reports Preliminary Operating Data for 2023

Moscow, 17 January 2024. PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the twelve months ended 31 December 2023.

In 2023, hydrocarbon production totaled 644.7 million barrels of oil equivalent (mmboe), including 82.39 bcm of natural gas and 12.37 million tons (mmt) of liquid hydrocarbons (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 6.0 mmboe, or by 0.9% as compared with the twelve months 2022

Preliminary 2023 total natural gas sales volumes, including volumes of LNG sold, aggregated 78.63 bcm, representing an increase of 2.7% as compared with 2022.

The Company processed 13.4 mmt of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 1.2% as compared with the corresponding volumes processed in the prior reporting period. NOVATEK further processed 7.0 mmt of stable gas condensate at the Ust-Luga Complex, which is an increase of 0.4% as compared with 2022.

Preliminary 2023 total sales volumes of liquid hydrocarbons aggregated 15.9 mmt, which was 0.3% higher than in 2022.

At 31 December 2023, NOVATEK had 1.1 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




Natural gas, bcm




Liquid hydrocarbons, mmt




Total hydrocarbons, mmboe




Total hydrocarbons, mmboe per day





Information provided in this press release represents expected results of PAO NOVATEK operations in 2023. 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 2023. 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.