NOVATEK has reported preliminary operating data for the second quarter and first half 2025.

In the second quarter 2025, NOVATEK’s hydrocarbon production totaled 167.6 million barrels of oil equivalent (mmboe), including 21.18 billion cubic meters (bcm) of natural gas and 3.44 million tons (mmt) of liquid hydrocarbons (gas condensate and crude oil), with the total hydrocarbons production increasing by 4.3 million boe or by 2.6% year-on-year.

NOVATEK’s hydrocarbon production totaled 336.7 million boe in the first half 2025, including 42.53 bcm of natural gas and 6.92 mmt of liquids, resulting in an increase in total hydrocarbons produced by 6.0 million boe, or by 1.8% as compared to the first half 2024.

Preliminary total natural gas sales volumes, including volumes of LNG sold, in the second quarter and first half 2025 aggregated 18.0 and 39.5 bcm, respectively, resulting in an increase of 1.1% and 0.5% as compared with the second quarter and first half 2024.

In the second quarter and first half 2025, the Company processed 3.2 and 6.6 million tons, respectively, of unstable gas condensate, representing an increase in processed volumes by 1.0% and 1.5%, as compared with the corresponding periods in 2024. In the second quarter and first half 2025, NOVATEK processed 2.0 and 4.2 million tons, respectively, of stable gas condensate, which was 13.5% and 33.6% higher as compared with the corresponding periods in 2024.

Preliminary total sales volumes of liquid hydrocarbons in the second quarter and first half 2025 aggregated 4.7 and 9.2 mmt, which was 18.7% and 11.8% higher than in the second quarter and first half 2024.

At 30 June 2025, NOVATEK had 0.9 bcm of natural gas, including LNG, and 1.3 mmt of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK hold 82 hydrocarbon exploration and production licences primarily in the Yamalo-Nenets Autonomous Okrug with total proven reserves of 17.5 billion boe (as of the end of 2024). We currently produce natural gas, gas condensate and oil at 29 fields. The gas condensate we produce is stabilised at the Purovsky Plant , and the stable gas condensate is then sent for processing to our complex in Ust- Luga.

KeyFacts Energy: NOVATEK Russia country profile