Russia Lowers Gas Production Forecast Amid Reduced Energy Ties with West
Russia has revised its forecast for natural gas production and exports in 2026. According to the Russian Ministry of Economy, the country expects to produce 683.1 billion cubic meters of natural gas, a decrease of 5.3 billion cubic meters from the previous estimate.
This reduction comes against the backdrop of reduced energy ties with the West and the European Union's plans to abandon Russian gas. The EU plans to completely stop importing Russian gas by 2027, which has led to a significant drop in Russian gas supplies to Europe.
Russia also downgraded its forecast for liquefied natural gas exports, expecting to export 35 million tons of LNG in 2026, compared to 30.3 million tons in 2025. The country still expects further growth in LNG exports but at a slower pace than previously forecast.