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Novatek's Gas Output up 6.3% in Jan.-Sept. 2018

Russian natural gas producer Novatek's natural gas output from January to September rose by 6.3 percent year-on-year to 50.3 billion cubic meters, the company announced Wednesday.

Novatek said over the same timeframe, its hydrocarbons production totaled 402.2 million barrels of oil equivalent (boe), including 50.31 billion cubic meters of natural gas and 8,775 thousand tons of liquids, such as gas condensate and crude oil, resulting in an year-on-year increase of 18.9 million boe, or by 4.9 percent, in total hydrocarbon production.

Preliminary natural gas sales volumes, including LNG, aggregated 51.0 billion cubic meters, which was 8.5 percent higher compared with the corresponding period of 2017. Novatek's international LNG sales volumes in the nine months of 2018 amounted to 3.43 billion cubic meters.

As at Sept. 30, 2018, Novatek had inventories of 2.4 billion cubic meters of natural gas, including LNG, and 645 thousand tons of stable gas condensate and petroleum products in storage or in transit.


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