NOVATEK Reports Preliminary Operating Data for the Third Quarter and Nine months 2015

October 12, 2015

OAO NOVATEK reported preliminary operating data for the third quarter and nine months 2015.

In the third quarter 2015, NOVATEK’s marketable production totaled 17.06 billion cubic meters (bcm) of natural gas and 2,346 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in natural gas production by 1.86 bcm, or by 12.2%, and an increase in combined liquids production by 813 thousand tons, or by 53.0% as compared with the third quarter 2014.

In the nine months period ended 30 September 2015, marketable production totaled 50.10 bcm of natural gas and 6,535 thousand tons of liquids, resulting in an increase in natural gas production by 4.24 bcm, or by 9.2%, and an increase in liquids production by 2,260 thousand tons, or by 52.9% as compared with the corresponding marketable production in the nine months 2014.

In the third quarter and nine months 2015, NOVATEK processed 3,275 and 8,698 thousand tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing an increase in processed volumes by 92.4% and 92.5%, as compared with the respective periods in 2014.

In the third quarter and nine months 2015, NOVATEK processed 1,606 and 5,046 thousand tons, respectively, of stable gas condensate at the Ust-Luga Fractionation and Transshipment Complex, which was 35.5% and 56.4% higher as compared with the respective periods in 2014. Scheduled maintenance works at the first train of the Ust-Luga Complex were conducted in September resulting in lower throughput volumes as compared with the second quarter 2015. Maintenance works at the second train of the Complex are scheduled for October.

Preliminary third quarter 2015 petroleum product sales volumes aggregated approximately 1,612 thousand tons, including 978 thousand tons of naphtha, 243 thousand tons of jet fuel, and 391 thousand tons of fuel oil and gasoil.

As the Ust-Luga Complex achieved full capacity utilization in March 2015, export sales of stable gas condensate were resumed. During the nine months 2015, 859 thousand tons of stable gas condensate were exported, including 607 thousand tons exported in the third quarter.

Source: NOVATEK