NOVATEK increased gas production in the first quarter to 21 billion cubic meters
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Gas production by NOVATEK (MOEX: NVTK) in the first quarter of this year amounted to 21.12 billion cubic meters. m, which is 1.2% more than the results of the first quarter of 2023. At that time, NOVATEK’s gas production amounted to 20.88 billion cubic meters. m. Liquid carbon production, taking into account the company’s share in joint ventures, increased by 12.2%, to 3.46 million tons versus 3.08 million tons in the first quarter of last year. About it reported company press service.
The total volume of sales of liquid hydrocarbons by NOVATEK amounted to 4.3 million tons. The volume of processing of stable gas condensate at the Ust-Luga complex amounted to 1.4 million tons, which is 23.4% lower than in the first quarter of last year. In January, a fire occurred at the NOVATEK complex in Ust-Luga after attacks drones.
According to Reuters, NOVATEK may reduce the scale of the Arctic LNG 2 project due to sanctions. The company plans to launch only two production lines, and transfer the third to a new plant being built in Murmansk.
Read more about how sanctions affect the company’s work in the material “Arctic LNG-2 is shrinking in scale”.
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