PAO NOVATEK : NOVATEK Reports Preliminary Operating Data for the Third Quarter and Nine Months 2023

Press Releases and Events NOVATEK Reports Preliminary Operating Data for the Third Quarter and Nine Months 2023

Moscow, 12 October 2023. PAO NOVATEK ("NOVATEK" and/or the "Company") reported today preliminary operating data for the third quarter and nine months 2023.

In the third quarter 2023, NOVATEK's hydrocarbon production totaled 154.9 million barrels of oil equivalent (boe), including 19.76 billion cubic meters (bcm) of natural gas and 3.00 million tons of liquids (gas condensate and crude oil), resulting in a decrease in total hydrocarbons production by 0.7 million boe, or by 0.4% compared to the third quarter 2022.

In the nine months 2023, NOVATEK's hydrocarbon production totaled 476.8 million boe, including 60.99 bcm of natural gas and 9.09 million tons of liquids, resulting in an increase in total hydrocarbons produced by 4.6 million boe, or by 1.0% as compared to the nine months 2022.

In the third quarter 2023, preliminary total natural gas sales volumes, including volumes of LNG sold, aggregated 16.87 bcm, representing an increase of 4.2% as compared with the corresponding volumes in the third quarter 2022. The natural gas volumes sold in the Russian Federation were 14.79 bcm, representing an increase of 3.7% as compared with the prior year period, whereas LNG volumes sold on international markets amounted to 2.09 bcm, representing an increase of 7.6%.

In the third quarter and nine months 2023, the Company processed 3.3 and 10.0 million tons, respectively, of unstable gas condensate at the Purovsky Processing Plant, representing an increase in processed volumes by 1.1% and 2.9%, as compared with the corresponding periods in 2022. In the third quarter and nine months 2023, NOVATEK processed 1.7 and 5.2 million tons, respectively, of stable gas condensate at the Ust-Luga Complex, which was 0.6% higher as compared with the both corresponding periods of 2022.

According to preliminary data in the third quarter 2023, Ust-Luga Complex product sales volumes aggregated 1.8 million tons, including 1.2 million tons of naphtha, 0.3 million tons of jet fuel, and 0.3 million tons of fuel oil and gasoil. NOVATEK sold 0.6 million tons of crude oil and 0.9 million tons of stable gas condensate.

At 30 September 2023, NOVATEK had 1.5 bcm of natural gas, including LNG, and 1.3 million tons of stable gas condensate and petroleum products in storage or transit and recognized as inventory.

NOVATEK's hydrocarbon production
including share in the production of joint ventures

Q3 2023	Q3 2022	Change		9M 2023	9M 2022	Change
19.76	19.94	-0.9%	Natural gas, bcm	60.99	60.82	0.3%
3.00	2.96	1.3%	Liquids, million tons	9.09	8.76	3.8%
154.9	155.6	-0.4%	Total hydrocarbons, mln boe	476.8	472.2	1.0%
1.68	1.69	-0.4%	Total hydrocarbons, mln boe per day	1.75	1.73	1.0%

Natural gas sales volumes, bcm

Q3 2023	Q3 2022	Change		9M 2023	9M 2022	Change
16.87	16.20	4.2%	Total natural gas sales volumes	57.51	54.42	5.7%
14.79	14.26	3.7%	Sold in the Russian Federation	49.21	48.42	1.6%
2.09	1.94	7.6%	Sold on international markets	8.30	6.00	38.4%

***

Information provided in this press release presents expected results of PAO NOVATEK operations for the third quarter and nine months 2023. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. Therefore, the results and indicators actually achieved may significantly differ from any declared or forecasted operational results in the third quarter and nine months 2023. PAO NOVATEK assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future results, due to new information obtained, any future events or for any other reasons.

PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company's subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 80% of Russia's natural gas production and approximately 15% of the world's gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.

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