Novatek boosts gas production 7.2% in Q3, liquid hydrocarbons - 34.3% - preliminary data
MOSCOW. Oct 9 (Interfax) - Novatek boosted gas production 7.2% in the third quarter of this year to 15.58 billion cubic meters (bcm), and liquid hydrocarbon production 34.3% to 1.535 million tonnes based on preliminary data, the company said in a statement.
"In the nine months period ended 30 September 2014, gross production totaled 46.88 bcm of natural gas and 4.299 million tonnes of liquids. Natural gas production increased by 1.07 bcm, or by 2.3%, whereas gross liquids production increased by 773,000 tonnes, or by 21.9% as compared with the corresponding gross production in the nine months 2013," the statement says.
"For the reporting periods, natural gas production was affected due to the disposal of the Company's equity share in Sibneftegas at the end of 2013. Excluding the natural gas produced by Sibneftegas, Novatek's natural gas production increased by 17.9% in the third quarter 2014 and by 12.4% in the nine months 2014 as compared with the respective periods in 2013," Novatek said.
"Novatek processed 1.702 million and 4.518 million tonnes of unstable gas condensate at the Purovsky Processing Plant, which represented a 48.0% and 27.2% increase as compared with the corresponding volumes in the third quarter and nine months 2013, respectively," the statement says.
"In the third quarter 2014, Novatek processed 1.185 million tonnes of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex launched in June 2013, which is 66% higher than in the third quarter 2013. In the nine months 2014, the Company processed 3.226 million tonnes of stable gas condensate at the Ust-Luga Complex. Preliminary third quarter 2014 product sales volumes aggregated approximately 1.025 million tonnes, including 736,000 tonnes of naphtha, 98,000 tonnes of jet fuel, and 191,000 tonnes of heating oil and gasoil," the company said.
"At September 30, 2014, Novatek had 2.591 billion cubic meters of natural gas and 552,000 tonnes of liquids comprised of stable gas condensate and petroleum products in storage or transit and recognized as inventory," the statement says.