Russia’s largest independent gas producer, Novatek, has recorded a 4.5% year-on-year natural gas production volume during the third-quarter, Kallanish Energy reports.
According to its Q3 preliminary operating data, released on Monday, total production reached 19.13 billion cubic meters (Bcm) of natural gas, including liquefied natural gas (LNG). Production at the same time last year was 18.31 Bcm.
On a quarterly-comparison, production volumes in the July-September period represent a 3.4% increase from 18.5 Bcm in Q2. Novatek’s total natural gas production for the year 2020 so far (as at September 30) is recorded at 56.71 Bcm, a marginal increase from 55.88 Bcm in 2019.
Natural gas sales volumes during third-quarter were totalled 16.56 Bcm, which is a 0.8% decrease from Q3 2019’s volumes of 16.7 Bcm.
Sales in the domestic Russian market increased by 5.1% y-o-y from 13.66 Bcm, to 14.36 Bcm. Meanwhile, shipments to international markets fell by 27.6% to 2.2 Bcm, from 3.04 Bcm the year prior.
In the first nine months of he year, total hydrocarbon production, including liquids, stood at 150.4 million barrels of oil equivalent (Mmboe). This is up 3.6% from 145.2 Mmboe in the same period the previous year.
Novatek stated that as of the end of September, it recorded 1.5 Bcm of natural gas and LNG in storage or transit and recognized as inventory.
This post appeared first on Kallanish Energy News.