FSUOGM: Novatek sees slight rise in gas supply in Q1

Russia’s Novatek boosted its gas production by 1.2% year on year to 21.12bn cubic metres in the first quarter, the company reported last week.

Output of liquids, including crude oil and gas condensate, rose by 12.2% y/y to 3.46mn tonnes, while total liquid hydrocarbon sales amounted to 4.3mn tonnes.

The volume of stable gas condensate that Novatek processed at its Ust-Luga complex was down 23.4% y/y at 1.4mn tonnes. In January, a fire broke out at the complex following a drone strike.

Novatek was previously the second-biggest gas producer in Russia after Gazprom, but was overtaken last year by Rosneft, which has been expanding output at several key fields in Western Siberia.

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