Press Releases and Events
NOVATEK reports preliminary operating data for the third quarter and nine months 2014
Moscow, 9 October 2014. OAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary production data for the third quarter and nine months 2014.
In the third quarter 2014, NOVATEK’s gross production totaled 15.58 billion cubic meters (bcm) of natural gas and 1,535 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 1.05 bcm, or by 7.2%, and gross liquids production increased by 392 thousand tons, or by 34.3%, as compared with the corresponding gross production in the third quarter 2013.
In the nine months period ended 30 September 2014, gross production totaled 46.88 bcm of natural gas and 4,299 thousand tons of liquids. Natural gas production increased by 1.07 bcm, or by 2.3%, whereas gross liquids production increased by 773 thousand tons, or by 21.9% as compared with the corresponding gross production in the nine months 2013.
For the reporting periods, natural gas production was affected due to the disposal of the Company’s equity share in Sibneftegas at the end of 2013. Excluding the natural gas produced by Sibneftegas, NOVATEK’s natural gas production increased by 17.9% in the third quarter 2014 and by 12.4% in the nine months 2014 as compared with the respective periods in 2013.
NOVATEK processed 1,702 and 4,518 thousand tons of unstable gas condensate at the Purovsky Processing Plant, which represented a 48.0% and 27.2% increase as compared with the corresponding volumes in the third quarter and nine months 2013, respectively.
In the third quarter 2014, NOVATEK processed 1,185 thousand tons of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex launched in June 2013, which is 66% higher than in the third quarter 2013. In the nine months 2014, the Company processed 3,226 thousand tons of stable gas condensate at the Ust-Luga Complex. Preliminary third quarter 2014 product sales volumes aggregated approximately 1,025 thousand tons, including 736 thousand tons of naphtha, 98 thousand tons of jet fuel, and 191 thousand tons of heating oil and gasoil.
At 30 September 2014, NOVATEK had 2,591 million cubic meters of natural gas and 552 thousand tons of liquids comprised of stable gas condensate and petroleum products in storage or transit 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 3Q and 9M 2014. 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 3Q and 9M 2014. 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.