Press Releases and Events
NOVATEK reports preliminary operating data for the third quarter and nine months 2012
Moscow, 12 October 2012. OAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary production data for the third quarter and nine months 2012.
In the third quarter 2012, NOVATEK’s gross production (including share in production by affiliates) totaled 13.32 billion cubic meters (bcm) of natural gas and 996 thousand tons of liquids (gas condensate and crude oil). As a result, the Company’s gross production for the nine months ended 30 September 2012 amounted to 42.02 bcm of natural gas and 3.125 million tons of liquids. Natural gas production increased by 3.01 bcm, or by 7.7% as compared with the nine months 2011, whereas liquids production increased by 64 thousand tons, or by 2.1%.
In the third quarter and nine months 2012, NOVATEK processed 925 and 2,899 thousand tons, respectively, of unstable gas condensate at the Purovsky Gas Condensate Processing Plant.
Preliminary stable gas condensate export volumes amounted to 723 thousand tons in the third quarter 2012 as compared to 657 thousand tons in the corresponding period of 2011, and as at 30 September 2012, NOVATEK had in transit or storage (recognized as inventory) 268 thousand tons of stable gas condensate and 1,310 million cubic meters of natural gas, of which 1,309 million cubic meters held in the underground storage facilities.
NOVATEK’s hydrocarbon production
Natural gas, bcm
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.