LNG

Jan 18 (LNGJ) - Novatek, operator of the Yamal LNG plant in Arctic Russia that came on stream in the fourth-quarter of 2017, said its annual production of natural gas rose 0.5 percent to just over 65 billion cubic metres. Novatek, whose stakeholders include French energy company Total, said all of its hydrocarbon production amounted to 513.3 million barrels of oil equivalent. Novatek processed 6.96 million tonnes of stable gas condensate at the Ust-Luga Complex, located 110 kilometres west of St. Petersburg, representing a 0.9 percent increase in daily average volumes processed at the facility in 2017. At the end of the year, the company said it had 1.0 billion cubic metres of natural gas and 754,000 tonnes of stable gas condensate and petroleum products in storage or in transit and recognized as inventory.