Novatek Sees Gas Output Flat in Q1
Russia's largest independent producer Novatek produced 132.5mn barrels of oil equivalent (boe) in Q1 2018, comprising 16.51bn m³ of gas and 2.936mn metric tons of liquids (gas condensate and crude oil), resulting in an overall increase of 1.5% compared with Q1 2017, it said April 10.
Preliminary natural gas sales volumes, including LNG, totalled 20.26bn m³, up 8% on the same period in 2017.
LNG sales were 0.96bn m³, gas equivalent, implying about 9 tankers left in Q1, each carrying 175,000 m³ LNG. The 0.96bn m3 thus accounted for 4.7% of Novatek's 20.26bn m³ gas sales in 2017. The first Yamal LNG train was not running at full capacity, having only loaded its first cargo in early December.
Novatek processed 2.762mn mt of unstable gas condensate at the Purovsky processing plant, representing a 5.1% decrease as compared with the corresponding volumes processed in the prior reporting period. Novatek processed 1.773mn mt of stable gas condensate at the Ust-Luga Complex, representing a 0.3% increase.