Russia's Novatek Revises Down Gas Output Plans Due to Fire

Novatek, Russia's No.2 natural gas producer, has revised down its production plans due to a fire at its Urengoyskoye gas field earlier this year, the company's Chief Financial Officer Mark Gyetvay said on Friday.

He estimated Novatek (NVTK.ME)'s total gas output increase at between 2 to 3 percent this year, down from previous forecasts of a 7 to 8 percent rise. Production of liquids, such as gas condensate and crude oil, is now expected to rise between 20 to 30 percent, compared to 40 to 50 percent a year earlier, he said.

(Reporting by Vladimir Soldatkin; Editing by Alissa de Carbonnel)