Novatek will increase its gas output 40% this year, said Leonid Mikhelson, board chairman of Russia’s largest independent gas producer.

In mid November, Novatek CFO Mark Gyetvay said that it had raised its production forecast for the year for a second time, to 51-52 bcm (1.84 tcf) of natural gas (including purchases), which corresponds to a growth of 37.5% or 15 bcm (529.5 bcf).

Last year, the company produced 37.8 bcm (1.33 tcf) of gas; at the end of the year, it bought a 51% stake in Sibneftegaz, which annually produces some 11 bcm (388.3 bcf), and also became a co-owner of SeverEnergia, which does not produce gas yet, Mikhelson said.

Novatek expects to produce 52.8 bcm (1.86 tcf) of gas this year, including purchases.

The amount of transported gas will be 52.5 bcm (1.85 tcf).