Novatek H1 gas exports dip as contracts start up

Privately-held Russian producer Novatek exported 3.2% less LNG in the second quarter, or 2.39bn m³. This was because less was sold on spot as volumes shifted to long-term contracts sold by Yamal LNG, the company said July 12. But it sold 15.31bn m³ of gas in the domestic market in the second quarter of the year, which was up 6.1% year on year. The total natural gas sales volume, including LNG, was 17.70bn m³, an increase of 4.7% on Q2 2020.

The company ramped up oil and gas output by 7.8% in Q2 2021 compared with Q2 2020 to 156.6mn barrels of oil equivalent, comprising 19.95bn m³ of natural gas and 3.1mn metric tons of liquids. This was half its production for the first six months: 314.7mn boe, comprising 40.11bn m³ of natural gas and 6.2mn tons of liquids. Production over the period was up 6.5% as compared to the first half 2020.