OREANDA-NEWS. NOVATEK (“NOVATEK” and/or the “Company”) reported preliminary production data for the second quarter and first half 2013.

The Company’s gross production for the second quarter totaled 15.19 billion cubic meters of natural gas and 1,198 thousand tons of liquids (gas condensate and crude oil). Gross natural gas production increased by 1.15 billion cubic meters, or by 8.2%, and gross liquids production increased by 153 thousand tons, or by 14.6%, as compared with the corresponding gross production in the second quarter 2012.

In the first half 2013, gross production for NOVATEK totaled 31.29 billion cubic meters of natural gas and 2,383 thousand tons of liquids. Natural gas production increased by 2.59 billion cubic meters, or by 9.0%, whereas gross liquids production increased by 254 thousand tons, or by 11.9% as compared with the corresponding gross production in the first half 2012.

In the second quarter and first half 2013, NOVATEK processed 1,211 and 2,401 thousand tons, respectively, of unstable gas condensate at the Purovsky Processing Plant.

In the second quarter 2013, NOVATEK started processing stable gas condensate at the Company’s Ust-Luga Fractionation and Transshipment Complex on the Baltic Sea into petroleum products. As at 30 June 2013, 191 thousand tons of stable gas condensate has been processed at the Complex. At the end of the second quarter 2013, the first tanker carrying 80 thousand tons of naphtha was shipped and, as at 30 June 2013, the tanker was on its way to the port of destination thus recognized as inventory in transit.

The Company’s preliminary stable gas condensate export volumes amounted to approximately 600 thousand tons for the second quarter 2013 as compared to 785 thousand tons in the corresponding period of 2012. The decrease in sales volumes was mainly due to the launch of the Ust-Luga Complex.

At 30 June 2013, we had approximately 1,380 million cubic meters of natural gas and 447 thousand tons of stable gas condensate and its products, including 129 thousand tons at the Ust-Luga Complex, in storage or transit and recognized as inventory.