Novatek's RAS net profit for 3 months of 2024 amounted to ₽65.09 billion, down 38.8% from ₽106.33 billion in the previous year. Revenue rose 13.7% to ₽218.73 billion against ₽192.31 billion a year earlier.

Novatek started pilot operation of gas condensate deposits at the Severo-Chaselskoye field in the load commissioning mode. Annual production at the field is more than 3 billion cubic meters of natural gas and 0.1 million tons of gas condensate.

Novatek's hydrocarbon production in 3M 2024 amounted to 167.4 mln boe, up 2.7% from 163 mln boe a year earlier. Natural gas production volume increased by 1.2% to 21.12 billion cubic meters. Liquid hydrocarbons production increased 12.2% to 3.46 million tons. Total natural gas sales, including LNG, amounted to 21.47 bcm, down 3.8%.

Novatek, facing a shortage of ice-class tankers for Arctic LNG-2, will focus its efforts on Murmansk LNG and may reduce the capacity of Arctic LNG-2 by using one of its liquefaction lines at the new plant, sources told Reuters. Unlike the port of Sabetta, where only ships that meet ice-class eligibility criteria can enter when the winter navigation season op...