Novatek’s Q1 gas production climbs

Russia’s Novatek, operator of the giant Yamal LNG project reported Thursday a rise of 6% in its gas production in the first quarter as compared to the same period last year.

Novatek’s marketable production totaled 17.24 billion cubic meters (bcm) of natural gas and 3,208 thousand tons of liquids. This resulted in an increase in gas production by 1.09 bcm, and a rise in combined liquids production by 1,217 thousand tons, or 61.1% as compared with the first quarter 2015.

The company processed 3,232 thousand tons of unstable gas condensate at the Purovsky processing plant, up 29.8% as compared with the corresponding volumes processed in the first quarter last year, Novatek’s preliminary operating data showed.

During the first quarter, Novatek processed 1,779 thousand tons of stable gas condensate at the Ust-Luga Complex, a rise of 4.7% on year.

Export sales of stable gas condensate amounted to 479 thousand tons, Novatek said.

As at 31 March 2016, Novatek had 0.4 bcm of natural gas and 395 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

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Posted on April 7, 2016 with tags .

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