The Russian Novatek’s hydrocarbon production has increased by 3.1% to 608.2 million barrels of oil equivalent during 2020, compared to 589.9 million barrels of oil equivalent, according to a press release.
These results include production of 77.37 billion cubic meters (bcm) of natural gas which increased by 3.6% versus 74.70 bcm in 2019 and 12,237 tons of liquids (gas condensate and crude oil) which increased by 0.7% compared to 12,148 tons of liquids in 2019.
According to operation results of Novatek, the preliminary natural gas volumes sold in the Russian Federation were 66.69 bcm during 2020 increasing by 1.6% compared to the volumes sold during 2019 which were 8.93 bcm.
While the total natural gas sales volumes, including volumes of liquified natural gas (LNG) sold, aggregated 75.62 bcm, decreasing by 3.6% as compared to the last year. The decrease was due to the decrease of the volumes sold on international markets after the decrease of Yamal LNG shareholders’ share, in addition to the increase in Yamal LNG direct sales under long-term contracts.