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Commodities

Russia Downgrades Gas Production and Export Forecasts Amid Ukraine War

Guavy AI Editorial Team
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Natural Gas
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Russia has revised its natural gas production and export forecasts downward due to its deteriorating economic and political ties with the West over the Ukraine war. According to a draft government document seen by Reuters, Russia's economy ministry expects the country to produce and export less natural gas in 2026 than previously forecast.

The new projections show that natural gas production in Russia will total 683.1 Bcm in 2026, which is 5.3 Bcm below the May projection but still above the 662.7 Bcm produced in 2025.

Russia's seaborne LNG exports are forecast to rise to 35 MMtpa in 2026 from 30.3 MMtpa in 2025, although the latest projection is 5.3 MMtpa below the previous forecast.

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