NOVATEK Reports Preliminary Operating Data for the First Quarter 2024

PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the first quarter 2024.

In the first quarter 2024, NOVATEK’s hydrocarbon production totaled 167.4 million barrels of oil equivalent (boe), including 21.12 billion cubic meters (bcm) of natural gas and 3.5 million tons of liquids (gas condensate and oil), resulting in an increase in total hydrocarbons production by 4.4 million boe, or by 2.7% compared to the first quarter 2023.

Preliminary total natural gas sales volumes, including volumes of LNG sold, aggregated 21.47 bcm, resulting in a decrease of 3.8% as compared with the first quarter 2023.

The Company processed 3.3 mmt of unstable gas condensate at the Purovsky Processing Plant, resulting in a decrease of 2.8% as compared with the corresponding volumes processed in the prior reporting period. NOVATEK further processed 1.4 mmt of stable gas condensate at the Ust-Luga Complex, which is 23.4% lower as compared with the first quarter 2023.

Preliminary total sales volumes of liquid hydrocarbons aggregated 4.3 mmt, which was 11% higher than in the first quarter 2023.

At 31 March 2024, NOVATEK had 0.2 bcm of natural gas, including LNG, and 1.2 mmt of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

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