Russia Lowers Gas Production Forecasts Amid EU Supply Cuts
Russia's gas production forecasts for the next three years have been revised downward by the government. According to Interfax, the Russian Economic Development Ministry lowered its estimate for gas production in 2026 to 683.1 billion cubic meters from a previous forecast of 688.4 billion cubic meters.
The ministry also cut its forecasts for 2027 and 2028, predicting 696.1 billion cubic meters and 710.5 billion cubic meters respectively. The forecast for 2029 was lowered to 740.1 billion cubic meters from a previous estimate of 750.4 billion cubic meters.
The revised forecasts were presented by Russian Economic Development Minister Maxim Reshetnikov during a government meeting on September 24. He attributed the reduced growth in gas production to 'reduced supplies to the EU, more gradual growth in supplies to China and restrictions on LNG,' primarily affecting the Arctic LNG 2 project due to sanctions.