Novatek’s Q1 gas production up, LNG sales down

By Mirza Duran Russia’s largest independent natural gas producer Novatek boosted its production in the first quarter of this year while the company’s sales decreased.

Yamal LNG project (Image courtesy of Novatek)

Novatek said Thursday that natural gas production rose by 2.2 percent year on year to 19.1 billion cubic metres.

The Russian company’s production of oil and gas condensate increased in the January – March period by 2 per cent to 3.05 million tonnes.

Preliminary natural gas sales volumes, including liquefied natural gas volumes, totaled 20.69 billion cubic meters, logging a decline of 6.8 per cent year-on-year.

Novatek sold 2.45 billion cubic meters of LNG volumes on

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