Page 142 - RusRPTDec21

Novatek plans to launch the Kharbeyskoye field before the end of 2021.
In 2022, the company plans to launch production at the Evo-Yakhinskoye, UstYamsoveyskoye and Urengoyskoye fields within the Olympic site of fields, with a peak production of 4bcm/a of gas and 1mnt/a of condensate in the next few years.
Yamal LNG production for 2021 is expected to be 2-3% higher than in 2020; in 3Q21, the plant produced 4.38mnt and shipped 4.24mnt of LNG.
17% of Yamal LNG’s volumes were sold on the spot market in 3Q21; the rest was sold under long-term contracts, for FY21 the share of spot might stand at 20-25%.
It will remain for 2022.
Train 4 of Yamal LNG has produced 122kt since its launch in June. The first three trains of Yamal LNG operate at 110% capacity utilisation.
The company expects to receive dividends from Yamal LNG for 2021.
Arctic LNG 2 is 52% complete. Progress on the first stage of the project is 69%; The project’s planned production volumes are already 100% contracted under long-term contracts; the first LNG volumes are to be sold in 2023.
Hydrocracking unit at the Ust’-Luga refinery is 58% complete. The project will allow the company to get additional profit in the amount of USD 10-15/t of processing.
● Lukoil
Lukoil released its 3Q21 Operating Results. Output rose pretty much as expected. Oil production was up 1.6% q/q in 3Q21 to 1.587mmbpd due to rising OPEC+ quotas. Gas output was up 7.4% q/q in daily terms, mostly on rising output in Uzbekistan after the completion of scheduled maintenance. Refining throughput was up 4.4% y/y as Russian demand recovers from the negative effects of COVID-19 and was up even more sharply q/q due to the finishing up of plant maintenance. Finally, Lukoil announced it will release 3Q21 IFRS numbers and host an associated conference call on Thursday, 25 November.
● Other
Surgutneftegas has published its 3Q21 RAS results. Operating income was RUB107.9bn ($1.47bn), flat q/q. In 3Q21, the company had net income of RUB142.2bn ($1.9bn), vs. the $0.3bn net loss in 2Q21, due to the $0.9bn net other income. The cash pile reached RUB3.81tn ($52.4bn) as of the end of 3Q21, up 2% q/q in $terms. The company’s revenues were 4% lower than we had forecast. At the same time, operating and commercial costs turned out to
142 RUSSIA Country Report December 2021 www.intellinews.com