In Q1, Novatek decreased gas production by 2.4%

In the first quarter of 2014, Novatek reduced the gas production by 2.4% to 15.71 billion cubic meters and increased the production of liquid hydrocarbons by 15.6%, the company reports.

The decrease of the natural gas production was connected with reduction of the company’s stake in Sinbeftegaz to zero at the end of 2013. Without regard to this factor, the production of natural gas grew by 7.1%.

In the first quarter of 2014, the processing of deethanized condensate at Purov condensate processing plant made up 1.385 million tons. In comparison with the first quarter of 2013, the processing volume increased by 16.4%.

In the first quarter of 2014, 1 005 thousand tons of stable gas condensate were produced at a complex in Ust-Luga, launched in June of 2013. According to preliminary information, 965 thousand tons of finished products, made at the complex, were sold, including 775 thousand tons of naphtha, 99 thousand tons of kerosene, 91 thousand tons of black oil and gasoil.

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