Russian Independent Novatek sees Gas Output up 9.3%

Russian independent producer Novatek produced 67.91bn m³ of marketable gas and 9.094mn metric tons (mt) of oil and condensates in 2015, it said January 13. This represents a 9.3% year-on-year rise in gas output and a rise of 50.7% in liquids output. In the fourth quarter it produced 17.8bn m³ of gas and 2.6mn mt of liquids.

Throughput at its Purovsky processing plant was up 59.6% on the year-previous quarter and up 82.1% on 2014 as a whole.

Throughput at its Ust-Luga fractionation and transshipment complex was up by 13.7% on the year-previous quarter and 42.9% higher on 2014 as a whole. 

As the Ust-Luga complex on the Baltic coast reached full capacity, export sales of stable gas condensate were restarted in March 2015. During the full year 2015, it exported 1.5mn mt of stable gas condensate, of which 619,000 mt were exported in the fourth quarter.

As of December 31, Novatek had 1.29bn m³ of gas and 656,000 mt of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

William Powell