NOVATEK Reports Preliminary Operating Data For The Second Quarter And First
ST. PETERSBURG, Russia, July 10, 2013
ST. PETERSBURG, Russia, July 10,2013 /PRNewswire/ --OAO NOVATEK ("NOVATEK"
and/or the "Company") today reported preliminary production data for the
second quarter and first half 2013.
The Company's gross production for the second quarter totaled 15.19 billion
cubic meters of natural gas and 1,198 thousand tons of liquids (gas condensate
and crude oil). Gross natural gas production increased by 1.15 billion cubic
meters, or by 8.2%, and gross liquids production increased by 153 thousand
tons, or by 14.6%, as compared with the corresponding gross production in the
second quarter 2012.
In the first half 2013, gross production for NOVATEK totaled 31.29 billion
cubic meters of natural gas and 2,383 thousand tons of liquids. Natural gas
production increased by 2.59 billion cubic meters, or by 9.0%, whereas gross
liquids production increased by 254 thousand tons, or by 11.9% as compared
with the corresponding gross production in the first half 2012.
In the second quarter and first half 2013, NOVATEK processed 1,211 and 2,401
thousand tons, respectively, of unstable gas condensate at the Purovsky
In the second quarter 2013, NOVATEK started processing stable gas condensate
at the Company's Ust-Luga Fractionation and Transshipment Complex on the
Baltic Sea into petroleum products. As at 30 June 2013, 191 thousand tons of
stable gas condensate has been processed at the Complex. At the end of the
second quarter 2013, the first tanker carrying 80 thousand tons of naphtha was
shipped and, as at 30 June 2013, the tanker was on its way to the port of
destination thus recognized as inventory in transit.
The Company's preliminary stable gas condensate export volumes amounted to
approximately 600 thousand tons for the second quarter 2013 as compared to 785
thousand tons in the corresponding period of 2012. The decrease in sales
volumes was mainly due to the launch of the Ust-Luga Complex.
At 30 June 2013, we had approximately 1,380 million cubic meters of natural
gas and 447 thousand tons of stable gas condensate and its products, including
129 thousand tons at the Ust-Luga Complex, in storage or transit and
recognized as inventory.
NOVATEK's hydrocarbon production
2Q2012 2Q2013 YoY% Gross production 1H2012 1H2013 HoH%
14.04 15.19 8.2% Natural gas, bcm 28.70 31.29 9.0%
1,045 1,198 14.6% Liquids, mt 2,129 2,383 11.9%
Information provided in this press release presents expected results of OAO
NOVATEK operations in the second quarter and first half 2013. The information
represents preliminary assessment only, which can be adjusted after
statistical, financial, fiscal and business reporting becomes available. The
information on NOVATEK's operational results in this press release depends on
many external factors and therefore, provided all permanent obligations
imposed by the London Stock Exchange listing rules are unconditionally
observed, cannot qualify for accuracy and completeness and should not be
regarded as an invitation for investment. Therefore, the results and
indicators actually achieved may significantly differ from any declared or
forecasted operational results in 2013. OAO NOVATEK assumes no obligation (and
expressly declares that it has no such obligation) to update or change any
declarations concerning any future results, both due to new information
obtained, any future events or for any other reasons.
OAO NOVATEK is Russia's largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, NOVATEK is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. Its upstream activities are concentrated in the
prolific Yamal-Nenets Autonomous Region, which is the world's largest natural
gas producing area and accounts for approximately 90% of Russia's natural gas
production and approximately 17% of the world's gas production. NOVATEK is an
open joint stock company established under the laws of the Russian Federation.
NOVATEK's shares and GDRs are listed on MICEX-RTS Stock Exchange in Russia and
the London Stock Exchange (LSE), respectively, under the ticker symbol "NVTK."
SOURCE OAO NOVATEK
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