Novatek Gas Production Climbs (Russia)

OAO NOVATEK reported preliminary operating data for the first quarter 2013.

In the first quarter 2013, NOVATEK’s gross production totaled 16.10 billion cubic meters of natural gas and 1,185 thousand tons of liquids (gas condensate and crude oil). Natural gas production increased by 1.44 billion cubic meters, or by 9.8% as compared with the first quarter 2012, whereas liquids production increased by 101 thousand tons, or by 9.3%.

In the first quarter 2013, NOVATEK processed 1,190 thousand tons of de-ethanized gas condensate at the Purovsky Processing Plant, representing an increase of 19.9% as compared with the first quarter 2012.

Preliminary stable gas condensate export volumes amounted to 1,167 thousand tons in the first quarter 2013 as compared to 623 thousand tons in the corresponding period of 2012. The significant increase is due to the growth in de-ethanized gas condensate processing volumes and decrease in stable gas condensate volumes in transit.

As at 31 March 2013, the Company had in transit or storage (recognized as inventory) 54 million cubic meters of natural gas and 159 thousand tons of stable gas condensate.

Capture

LNG World News Staff, April 10, 2013; Image: Novatek

 

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