Novatek Sees Output Up, LNG Sales Down

Russian private gas producer and LNG operator Novatek reported Q3 2020 hydrocarbon production of 150.4mn barrels of oil equivalent (boe), up 3.6% year on year. Of that, gas comprised 19.13bn m³. As of September 30, Novatek's gas output this year stands at 56.71bn m³.

Natural gas sales volumes, including LNG, totalled 16.56bn m³, down 0.8% on the year before. Domestic gas sales accounted for 14.36bn m³of the total. LNG sales were down as Novatek sold less spot LNG on its own account and more of the plant's output was sold on term contracts as commercial operations begun.

Novatek also processed 2.939mn tons of unstable gas condensate at Purovsky plant, 12.1% more than in Q3 2019. It processed another 1.628mn mt of stable gas condensate at the Ust-Luga complex, down 1.7% on Q3 2019. Novatek had 1.5bn m³ of gas in store as of end September, including LNG, it said.