Translation. Region: Russian Federation –
Source: NOVATEK – Novatec – An important disclaimer is at the bottom of this article.
NOVATEK announced preliminary production figures for the second quarter and first half of 2025.
Moscow, July 11, 2025. PAO NOVATEK (hereinafter referred to as “NOVATEK” and/or the “Company”) presented preliminary production indicators for the second quarter and first half of 2025.
In the second quarter, hydrocarbon production amounted to 167.6 million barrels of oil equivalent (boe), including 21.18 billion cubic meters of natural gas and 3.44 million tonnes of liquid hydrocarbons (gas condensate and oil). Compared to the second quarter of 2024, hydrocarbon production increased by 4.3 million boe, or 2.6%.
In the first half of the year, hydrocarbon production amounted to 336.7 million boe, including 42.53 billion cubic meters of natural gas and 6.92 million tons of liquid hydrocarbons. Compared to the first half of 2024, hydrocarbon production increased by 6.0 million boe, or 1.8%.
According to preliminary data, the total volume of natural gas sales, including LNG, in the second quarter and first half of 2025 amounted to 18.0 and 39.5 billion cubic meters, respectively, which is 1.1% and 0.5% higher than the same figures for the second quarter and first half of 2024.
The volume of deethanized gas condensate processed in the second quarter and the first half of 2025 amounted to 3.2 and 6.6 million tonnes, respectively, demonstrating an increase of 1.0% and 1.5% compared to the second quarter and the first half of 2024. In the second quarter and the first half of 2025, 2.0 and 4.2 million tonnes of stable gas condensate were processed, respectively, the volume of processing increased by 13.5% and 33.6% compared to the corresponding periods of 2024.
According to preliminary data, the total volume of liquid hydrocarbon sales in the second quarter and first half of 2025 amounted to 4.7 and 9.2 million tons, respectively, which is 18.7% and 11.8% higher than similar figures for the second quarter and first half of 2024.
As of June 30, 2025, 0.9 billion cubic meters of gas, including LNG, as well as 1.3 million tons of stable gas condensate and its processed products were reflected as “finished goods balances” and “goods in transit” in inventories.
Hydrocarbon production, taking into account the share in the production of joint ventures
|
2 sq. 2025 |
2 sq. 2024 |
Change |
1st half 2025 |
1st half 2024 |
Change |
|
|
21.18 |
20.60 |
2.8% |
Natural gas, billion cubic meters |
42.53 |
41.73 |
1.9% |
|
3.44 |
3.37 |
2.2% |
Liquid hydrocarbons, million tons |
6.92 |
6.83 |
1.4% |
|
167.6 |
163.3 |
2.6% |
Total hydrocarbons, million boe |
336.7 |
330.7 |
1.8% |
|
1.84 |
1.79 |
2.6% |
Total hydrocarbons, million boe per day |
1.86 |
1.82 |
2.4% |
***
The information provided in this press release characterizes the expected operating results of PAO NOVATEK for the second quarter and first half of 2025. This information is a preliminary estimate, which may be adjusted after the preparation of statistical, financial, tax, and accounting reports. Therefore, actual results and indicators may differ materially from the stated or projected operating results for the second quarter and first half of 2025. PAO NOVATEK does not undertake (and expressly declares that it has no such obligation) to update or change any statements regarding future results, whether as a result of new information, the occurrence of any future events, or for any other reasons.
PAO NOVATEK is one of the largest independent natural gas producers in Russia. In 2017, the Company entered the international LNG market with the successful launch of the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing, and marketing of gas and liquid hydrocarbons. The fields and license areas of NOVATEK's subsidiaries and affiliates are located primarily in the Yamal-Nenets Autonomous Okrug, the world's largest natural gas producing region, accounting for approximately 80% of Russia's gas production and approximately 15% of global gas production. NOVATEK is a public joint-stock company established under the laws of the Russian Federation.
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