NOVATEK Reports Preliminary Operating Data for the First Quarter 2022

PAO NOVATEK reported today preliminary operating data for the first quarter 2022.

In the first quarter 2022, NOVATEK’s hydrocarbon production totaled 160.0 million barrels of oil equivalent (boe), including 20.64 billion cubic meters (bcm) of natural gas and 3.0 million tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons produced by 1.9 million boe, or by 1.2% as compared with the first quarter 2021.

Preliminary total natural gas sales volumes, including volumes of LNG sold, aggregated 21.23 bcm, representing a decrease of 0.9% as compared with the corresponding volumes in the first quarter 2021. The natural gas volumes sold in the Russian Federation were 19.37 bcm, representing a decrease of 0.9% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 1.86 bcm, representing a decline of 1.0%.

The Company processed 3.3 million tons of unstable gas condensate at the Purovsky Processing Plant, representing an increase of 7.0% as compared with the corresponding volumes processed in the first quarter 2021. NOVATEK further processed 1.8 million tons of stable gas condensate at the Ust-Luga Complex, which is equal to the volumes processed in the first quarter 2021.

Preliminary petroleum product sales volumes aggregated 1,736 thousand tons, including 1,161 thousand tons of naphtha, 229 thousand tons of jet fuel, and 346 thousand tons of fuel oil and gasoil. NOVATEK sold 761 thousand tons of crude oil and 619 thousand tons of stable gas condensate.

At the 31 March 2021, NOVATEK had 0.2 bcm of natural gas, including LNG, and 700 thousand tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK’s hydrocarbon production
including share in production of joint ventures

 Natural Gas Sales Volumes, bcm