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Novatek cuts gas output 0.7%, liquids 0.4% in Q3; gas sales up 0.1% on Russian market growth
MOSCOW. Oct 12 (Interfax) – Novatek reduced gas production 0.7% year-on-year to 19 billion cubic meters in Q3 2021, while liquids output fell 0.4% to 3 million tonnes, the company said in a statement.
Gas sales grew 0.1% to 16.58 bcm in the reporting period. The company sold 14.87 bcm in Russia, up 3.6% from Q3 2020.
Liquefied natural gas sales on international markets came to 1.71 bcm, down 22.3%. Overall natural gas sales including LNG totaled 16.58 bcm according to tentative data, up 0.1% compared to Q3 2020.
"The decrease attributable to volumes sold on international markets was mainly due to the decrease of Yamal LNG shareholders’ share, including Novatek’s share, of LNG volumes sold on the spot market, and a corresponding increase in Yamal LNG direct sales under long-term contracts," the statement said.
Reports have said one of the Yamal LNG plant’s trains had been stopped for maintenance for nearly three weeks.
Gas production grew 4.2% year-on-year in 9M 2021 to 59.11 bcm. Liquids output rose 2.9% to 9.25 million tonnes.
Gas sales in 9M rose 2.9% to 55.7 bcm, with 49.73 bcm sold in Russia, up 5.7%, and 5.97 bcm sold abroad, down 16.2% year-on-year.
The company processed 3.2 million and 9.4 million tonnes, of unstable gas condensate in Q3 and 9M 2021 respectively at the at the Purovsky Processing Plant, up 7.3% and 9.7% year-on-year, respectively. It processed 1.6 million and 5.2 million tonnes of stable gas condensate in the respective periods at the Ust-Luga Complex, down 1.6% and 0.9% compared with the corresponding periods in 2020.
Petroleum product sales at the Ust-Luga complex came to 1.413 million tonnes in Q3 and included 856,000 tonnes of naphtha, 218,000 tonnes of jet fuel and 339,000 tonnes of fuel oil and gasoil. Novatek sold 985,000 tonnes of crude oil and 750,000 tonnes of stable gas condensate.
Novatek had 1.8 bcm of natural gas, including LNG, and 713,000 tonnes of stable gas condensate and petroleum products, in storage or transit and recognized as inventory as of September 30, 2021.