Novatek LNG exports rise by 6.3% to 8.45 bcm in 2022

Novatek increased LNG sales on international markets by 6.3% to 8.45 bln cubic meters of gas in 2022, the company said on Monday.

Meanwhile, the total volume of natural gas sales in 2022 increased by 1% to 76.55 bln cubic meters.

"Preliminary 2022 total natural gas sales volumes, including LNG, aggregated 76.55 bcm, representing an increase of 1.0% as compared with the corresponding volumes in 2021. The natural gas volumes sold in the Russian Federation were 68.09 bcm, representing an increase of 0.3% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 8.45 bcm, representing an increase of 6.3%," the company said.

Russian Deputy Prime Minister Alexander Novak said earlier that Russia increased exports of liquefied natural gas in 2022 to 46 bln cubic meters, while pipeline gas supplies have declined due to sanctions restrictions and Nord Stream sabotage.

Russia intends to produce 60 mln metric tons of LNG per year in the coming years, and then increase production to 100 mln metric tons.

Novatek also reported that its natural gas production in 2022 increased by 2.8% compared to 2021 and reached 82.14 bln cubic meters. At the same time, the company reduced production of liquid hydrocarbons (oil and gas condensate) by 2.9% to 11.94 mln metric tons. In general, the company's hydrocarbon output increased by 2% in the reporting period to 638.9 mln barrels of oil equivalent.

Novatek is Russia's largest independent natural gas producer. The company conducts exploration, production, and processing of gas and liquid hydrocarbons. The company's 32 fields and license areas are located in the Yamalo-Nenets Autonomous Region.

Source: Russian News Agency