Rus News Journal

NOVATEK left on a record

the Company has increased gas production more than on 40 %

Following the results of last year NOVATEK has shown record rates of increase of gas production. In comparison with 2010 extraction has grown more than on 40 %, and for five years this indicator has practically doubled. However, without additional acquisitions of the company hardly it will be possible to keep such rates of increase of extraction in the future, experts consider.

According to preliminary data, in 2011 NOVATEK has increased gas production by 41,7 %, to 53,5 mlrd cubic m, it is told in the company message. From them in the fourth quarter the company has extracted 14,5 mlrd cubic m that on 33,4 % above a similar indicator of 2010. High level of extraction NOVATEKa has extended also the all-Russian extraction which has increased by 3 % against almost not changed extraction Gazprom (according to TSDU thermal power station, monopoly gas production last year has grown only on 0,2 %, to 509,7 mlrd cubic.

so high rates of increase of extraction of blue fuel NOVATEK shows for the first time. In 2010 company extraction has increased by 15 %, year before — on 6 % (the schedule see). On rates of increase of extraction NOVATEK has outstripped only Gazprom oil increased extraction last year more than twice. Thus share NOVATEKa in the all-Russian gas production in 2011 has increased to 7,9 % (in 2010 — 5,8 %) and, apparently, will continue to grow.

However, during the current year it is not necessary to expect so high rates of increase of extraction. the Sharp increase in extraction of the company last year has occurred thanks to acquisition Sibneftegaza (share NOVATEKA — 51 %), so it not organic growth — the analyst " explains; Uralsib Kepital Alexey Kokin. Under its forecasts, during the current year the company can increase extraction approximately on 10 %. Thus following the results of 2011, by calculations g - on Kokina, at the expense of high extraction gain NOVATEKa will increase by 68 % and will reach record 6,5 mlrd dollars