Novatek increased gas production by 3.3% in 2021

The volume amounted to 79.89 billion cubic meters.

According to the results of 2021, Novatek increased hydrocarbon production by 2.9% compared to the figure for 2020, to 626 barrels of oil equivalent. This is stated in a press release from the company.

"In 2021, hydrocarbon production amounted to 626 million barrels of oil equivalent, including 79.89 billion cubic meters of natural gas and 12.3 million tons of liquid hydrocarbons (gas condensate and oil). In comparison to 2020 year, hydrocarbon production increased by 17.8 million barrels of oil equivalent, or by 2.9%," the report says.

At the same time, gas sales increased by 0.3% in annual terms and amounted to 75.81 billion cubic meters, including 67.87 billion cubic meters sold in Russia (+1.8% year-on-year), and on international markets - 7.94 billion cubic meters (-11.1%).

The company explained that the decrease in sales volumes on international markets was due to an increase in the share of direct sales of Yamal LNG under long-term contracts and a corresponding decrease in the share of sales from the project on the spot market through shareholders.

At the same time, the volume of processing of de-ethanized gas condensate at the Purovsky Plant increased by 8.8%, reaching 12.8 million tons, and 7 million tons of stable gas condensate were processed at the site in Ust-Luga.


Source: TASS