NOVATEK Reports Preliminary Operating Data for the Third Quarter and Nine Months 2023
PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today preliminary operating data for the third quarter and nine months 2023.
In the third quarter 2023, NOVATEK’s hydrocarbon production totaled 154.9 million barrels of oil equivalent (boe), including 19.76 billion cubic meters (bcm) of natural gas and 3.00 million tons of liquids (gas condensate and crude oil), resulting in a decrease in total hydrocarbons production by 0.7 million boe, or by 0.4% compared to the third quarter 2022.
In the nine months 2023, NOVATEK’s hydrocarbon production totaled 476.8 million boe, including 60.99 bcm of natural gas and 9.09 million tons of liquids, resulting in an increase in total hydrocarbons produced by 4.6 million boe, or by 1.0% as compared to the nine months 2022.
In the third quarter 2023, preliminary total natural gas sales volumes, including volumes of LNG sold, aggregated 16.87 bcm, representing an increase of 4.2% as compared with the corresponding volumes in the third quarter 2022. The natural gas volumes sold in the Russian Federation were 14.79 bcm, representing an increase of 3.7% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 2.09 bcm, representing an increase of 7.6%.
In the third quarter and nine months 2023, the Company processed 3.3 and 10.0 million tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing an increase in processed volumes by 1.1% and 2.9%, as compared with the corresponding periods in 2022. In the third quarter and nine months 2023, NOVATEK processed 1.7 and 5.2 million tons, respectively, of stable gas condensate at the Ust-Luga Complex, which was 0.6% higher as compared with the both corresponding periods of 2022.
According to preliminary data in the third quarter 2023, Ust-Luga Complex product sales volumes aggregated 1.8 million tons, including 1.2 million tons of naphtha, 0.3 million tons of jet fuel, and 0.3 million tons of fuel oil and gasoil. NOVATEK sold 0.6 million tons of crude oil and 0.9 million tons of stable gas condensate.
At 30 September 2023, NOVATEK had 1.5 bcm of natural gas, including LNG, and 1.3 million tons 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
| Q3 2023 | Q3 2022 | Change | 9M 2023 | 9M 2022 | Change | |
| 19.76 | 19.94 | -0.9% | Natural gas, bcm | 60.99 | 60.82 | 0.3% |
| 3.00 | 2.96 | 1.3% | Liquids, million tons | 9.09 | 8.76 | 3.8% |
| 154.9 | 155.6 | -0.4% | Total hydrocarbons, mln boe | 476.8 | 472.2 | 1.0% |
| 1.68 | 1.69 | -0.4% | Total hydrocarbons, mln boe per day | 1.75 | 1.73 | 1.0% |
Natural gas sales volumes, bcm
| Q3 2023 | Q3 2022 | Change | 9M 2023 | 9M 2022 | Change | |
| 16.87 | 16.20 | 4.2% | Total natural gas sales volumes | 57.51 | 54.42 | 5.7% |
| 14.79 | 14.26 | 3.7% | Sold in the Russian Federation | 49.21 | 48.42 | 1.6% |
| 2.09 | 1.94 | 7.6% | Sold on international markets | 8.30 | 6.00 | 38.4% |
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Information provided in this press release presents expected results of PAO NOVATEK operations for the third quarter and nine months 2023. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in the third quarter and nine months 2023. PAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, due to new information obtained, any future events or for any other reasons.
