Russian Novatek Has Productive Year
Russian independent Novatek produced 68.81bn m³ of gas in 2018, which was up 8.5% year on year; and 11.8mn metric tons of condensate and crude oil. Overall hydrocarbons output was up 6.9% year on year, it said January 16.
Preliminary gas sales volumes, including LNG, totalled 72.12bn m³, up 10.9% as compared with 2017. Domestic sales were 66.08bn m³ and LNG exports were 6.04bn m³. The year before, LNG sales were 0.1bn m³ as Yamal LNG started only early December 2017. Sales of LNG have risen faster than expected as the second and third trains at Yamal were both on stream much sooner than expected: instead of the planned six months' interval, all three were on stream in under a year.
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As of December 31, Novatek had 2.2bn m³ of natural gas, including LNG, in storage or transit and recognised as inventory.