Highlights Reiterates 2019 output forecast of 556-560 mil mt Russia committed to November output target Moscow — Russian energy minister Alexander Novak said Wednesday he wants new volumes of gas condensate to be excluded from Russia’s quota as part of its oil output pact with OPEC. Novak’s remarks come as Russia’s output of condensate — a potentially high-value petroleum liquid — is expected to grow strongly in coming years as it expands its output of liquefied natural gas from new giant projects in the Arctic Circle. “We are trying to reach the target level [in November],” Novak told reporters. “There are certain nuances that have an effect during the winter season. Nevertheless our companies took responsibility and are trying to fully comply.” “The start of operation of new gas fields also increases gas and gas condensate output. We think that gas condensate shouldn’t be included in the total volume […]