Novatek’s gas production edges down

Novatek's gas production edges down

Novatek, the Russian operator of the Yamal liquefied natural gas project, reported a slight decrease in natural gas production during the first nine months of 2016. 

According to the company’s report, the marketable production totaled 49.95 billion cubic meters (bcm) of natural gas, a decrease of  150 million cubic meters or 0.3 percent.

However, the total marketable production of liquids (gas condensate and crude oil) reached 9.387 thousand, 2,852 tons or 43.6 percent up compared to the nine months in 2015.

The company processed 9,356 thousand tons of unstable gas condensate at the Purovsky processing plant, which represented a 7.6 percent increase as compared with the corresponding volumes processed in the nine months 2015.

Novatek processed 5,197 thousand tons of stable gas condensate at the Ust-Luga complex, which was 3.0 percent higher than the volumes processed at the facility in the nine months 2015.

Preliminary nine months 2016 petroleum product sales volumes aggregated 5,211 thousand tons, including 3,247 thousand tons of naphtha, 774 thousand tons of jet fuel, and 1,190 thousand tons of fuel oil and gasoil.

Export sales of stable gas condensate amounted to 1,069 thousand tons, Novatek said in its report.

As at 30 September 2016, Novatek had 2.46 bcm of natural gas and 426 thousand tons of  stable gas condensate and petroleum products in storage or transit and recognized as inventory.

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Posted on October 10, 2016 with tags .

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