NOVATEK Reports Preliminary Operating Data for 2021

Source: www.gulfoilandgas.com 1/13/2022, Location: Asia

PAO NOVATEK (“NOVATEK”) reported preliminary operating data for the twelve months ended 31 December 2021.

In 2021, NOVATEK’s hydrocarbon production totaled 626.0 million barrels of oil equivalent (boe), including 79.89 billion cubic meters (bcm) of natural gas and 12.3 million tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 17.8 million boe, or by 2.9% as compared with the twelve months 2020.

Preliminary 2021 total natural gas sales volumes, including volumes of LNG sold, aggregated 75.81 bcm, representing an increase of 0.3% as compared with the corresponding volumes in 2020. The natural gas volumes sold in the Russian Federation were 67.87 bcm, representing an increase of 1.8% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 7.94 bcm, representing a decline of 11.1%. The decrease attributable to volumes sold on international markets was mainly due to the increase in Yamal LNG direct sales under long-term contracts and a corresponding decrease in Yamal LNG shareholders’ share, including NOVATEK’s share, of LNG volumes sold on the spot market.

The Company processed 12.8 million tons of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 8.8% as compared with the corresponding volumes processed in the prior reporting period. NOVATEK further processed 7.0 million tons of stable gas condensate at the Ust-Luga Complex, representing a slight decrease of 0.7% in volumes processed at the facility in 2021.

Preliminary 2021 petroleum product sales volumes aggregated 6,785 thousand tons, including 4,398 thousand tons of naphtha, 1,039 thousand tons of jet fuel, and 1,347 thousand tons of fuel oil and gasoil. NOVATEK sold 3,909 thousand tons of crude oil and 2,341 thousand tons of stable gas condensate.

At the 31 December 2021, NOVATEK had 0.9 bcm of natural gas, including LNG, and 660 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.


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