Russia Downgrades Gas Production Forecast Amid EU Phase-Out Plans

Russia has revised its forecast for natural gas production and exports for 2026. The Russian Ministry of Economy now expects to produce less gas than previously anticipated, with a new estimate of 683.1 billion cubic meters in 2026, down from the previous forecast of 688.4 billion cubic meters.

This represents a reduction of approximately 5.3 billion cubic meters compared to the previous forecast, but still exceeds last year's production level of around 662.7 billion cubic meters.

The new estimate for liquefied natural gas (LNG) exports has also been revised downward, with Russia now expecting to export about 35 million metric tons in 2026, down from the previous forecast of approximately 40.3 million metric tons.