PAO NOVATEK (“NOVATEK”) reported preliminary operating data for the first quarter 2023. In the first quarter 2023, NOVATEK’s hydrocarbon production totaled 163.0 million barrels of oil equivalent (boe), including 20.88 billion cubic meters (bcm) of natural gas and 3.1 million tons of liquids (gas condensate and oil), resulting in an increase in total hydrocarbons production by 3.0 million boe, or by 1.8% compared to the first quarter 2022.
Preliminary total natural gas sales volumes, including volumes of LNG sold, aggregated 22.33 bcm, representing an increase of 5.2% as compared with the corresponding volumes in the first quarter 2022. The natural gas volumes sold in the Russian Federation were 19.36 bcm, which is practically equal to the prior year period, whereas LNG volumes sold on international markets amounted to 2.97 bcm, representing a growth of 60.0%.
The Company processed 3.4 million tons of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 2.3% as compared with the corresponding volumes processed in the first quarter 2022. NOVATEK further processed 1.8 million tons of stable gas condensate at the Ust-Luga Complex, which is practically equal to the volumes processed in the first quarter 2022.
Preliminary petroleum product sales volumes of the Ust-Luga Complex aggregated 1.6 million tons, including 0.9 million tons of naphtha, 0.3 million tons of jet fuel, and 0.4 million tons of fuel oil and gasoil. NOVATEK sold 0.6 million tons of crude oil and 0.8 million tons of stable gas condensate.
At the 31 March 2023, NOVATEK had 0.3 bcm of natural gas, including LNG, and 1.4 million tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.
NOVATEK’s hydrocarbon production including share in the production of joint ventures
Natural gas, bcm 1Q 2023: 20.88 1Q 2022: 20.64 Change, %: 1.2%
Liquids, million tons 1Q 2023: 3.08 1Q 2022: 2.95 Change, %: 4.3%
Total hydrocarbons, mln boe 1Q 2023: 163.0 1Q 2022: 160.0 Change, %: 1.8%
Total hydrocarbons, mln boe per day 1Q 2023: 1.81 1Q 2022: 1.78 Change, %: 1.8%
Natural gas sales volumes, bcm
Total natural gas sales volumes 1Q 2023: 22.33 1Q 2022: 21.23 Change, %: 5.2%
Sold in the Russian Federation 1Q 2023: 19.36 1Q 2022: 19.37 Change, %: -0.1%
International Sales 1Q 2023: 2.97 1Q 2022: 1.86 Change, %: 60.0%
