Novatek boosts gas production by 9% in 3Q 2013

Russia’s largest independent gas producer Novatek said Friday it boosted its third quarter 2013 natural gas production by 9.1 percent to 513 billion cubic feet. The firm said it also saw its gross liquids production increase by 14.8 percent, compared to 3Q 2012, to 147,000 tons. Novatek’s upstream activities are concentrated on the Yamal-Nenets Autonomous Region in northern Russia.

Furthermore, Gennady Timchenko, a co-owner of Russia’s No.2 gas producer Novatek, said he wants to talk with Rosneft about buying Enel’s stake in gas firm SeverEnergia, Kommersant daily reported on Thursday. Last month, Rosneft agreed to buy Enel’s 40 percent stake in Arctic Russia B.V., leading to Rosneft’s indirect ownership of a 19.6 percent stake in Russian gas producer SeverEnergia, where 51 percent is owned by a Gazprom Neft and Novatek joint venture. « I hope that we would start a constructive dialog with Rosneft in the nearest future and will find a mutually beneficial decision, » Timchenko said in the interview.


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