Novatek increases gas production 0.3% in 2023 to 82.4 bcm, while liquid hydrocarbons rose 3.6% to 12.4 mln tonnes

MOSCOW. Jan 17 (Interfax) - Novatek increased gas production 0.3% to 82.39 billion cubic meters in 2023, while production of liquid hydrocarbons (gas condensate and oil) increased 3.6% to 12.37 million tonnes, the company said.

Hydrocarbon production increased 6 million boe, or 0.9%, compared to 2022.

Preliminary data show that natural gas sales, including LNG, reached 78.63 bcm in 2023, which is 2.7% higher than in 2022.

Novatek's gas production increased 0.4% in Q4 2023 compared to Q4 2022 to 21.4 bcm, while liquid hydrocarbon production increased 3.1% to 3.3 million tonnes, and gas sales dropped almost 5% to 21.1 bcm.

The volume of processing de-ethanized gas condensate at the Purovsky Plant increased 1.2% to 13.4 million tonnes, and the volume of processing stable gas condensate at the complex in Ust-Luga rose 0.4% to 7 million tonnes, the company said.

Preliminary data indicate that the total volume of liquid hydrocarbon sales increased 0.3% year-on-year to 15.9 million tonnes in 2023.

As of December 31, 2023, 1.1 bcm of gas, including LNG, as well as 1.3 million tonnes of stable gas condensate and its products were recorded as "remaining finished products" and "products in transit" in inventories.