NOVATEK Reports Preliminary Operating Data for the Fourth Quarter and Full Year 2013

 NOVATEK reported today preliminary operating data for the fourth quarter and full year 2013.

In the fourth quarter 2013, NOVATEK’s gross production totaled 16.42 billion cubic meters (bcm) of natural gas and 1,249 thousand tons of liquids (gas condensate and crude oil). The Company’s full year 2013 gross production aggregated 62.22 bcm of natural gas and 4,774 thousand tons of liquids, resulting in an increase in natural gas production by 4.90 bcm, or by 8.5% as compared with 2012, and an increase in combined liquids production by 487 thousand tons, or by 11.4%.

In 2013, NOVATEK processed 4,862 thousand tons of unstable de-ethanized gas condensate at the Purovsky Processing Plant, of which 1,311 thousand tons was processed in the fourth quarter. The volumes of liquids processed at the Purovsky Processing Plant increased by 20.5% in 2013 as compared  with 2012.

Stable gas condensate export volumes amounted to 1,973 thousand tons in 2013 as compared with 2,822 thousand tons in 2012, whereas in the fourth quarter 2013 stable gas condensate was not exported due to the launch of two processing trains at the Gas Condensate Fractionation and Transshipment Complex (“Ust-Luga Complex”) located in the port of Ust-Luga during the second and fourth quarters 2013.

In the fourth quarter and full year 2013, NOVATEK processed 969 and 1,873 thousand tons of stable gas condensate, respectively, at the Ust-Luga Complex. Preliminary 2013 product sales volumes aggregated approximately 1,606 thousand tons, including 766 thousand tons of naphtha, 104 thousand tons of jet fuel, and 45 thousand tons of heating oil and gasoil sold in the fourth quarter 2013.

At 31 December 2013, NOVATEK had 3.26 bcm of natural gas and 409 thousand tons of stable gas condensate and its products in storage or transit and recognized as inventory.