Russia Trims Gas Output Forecasts Amid EU Phase-Out
Russia's economy ministry has downgraded its forecasts for natural gas production and exports this year, citing the ongoing impact of the Ukraine war and the European Union's plan to halt all Russian gas purchases from next year.
The revised figures show that Russia's gas output is now expected at around 683 billion cubic meters in 2026, roughly 5 bcm below a projection made in May. This would still mark an increase on the approximately 663 bcm produced in 2025, but at a slower pace than previously projected.
The outlook for liquefied natural gas (LNG) is also being revised downward. Seaborne LNG exports are forecast to rise to around 35 million tons this year from about 30 million tons in 2025, but that is roughly 5 million tons short of the earlier estimate.
The cuts reflect the breakdown in economic and political ties with the West since the war in Ukraine began, along with the EU's plan to halt all Russian gas purchases from next year. The gas downgrade follows an earlier revision this month that lowered Russia's 2026 oil output forecast to a 17-year low.