A draft government document shows Russia has downgraded gas production and
export forecasts amid the Russia-Ukraine conflict and an EU plan to stop buying
Russian gas from next year. The draft projects gas production this year at 683.1
bcm, 5.3 bcm below the May forecast but still above 2025's 662.7 bcm. Sea-borne
LNG exports are forecast to rise to 35.0 mln t this year from 30.3 mln t in
2025, but remain 5.3 mln t below earlier projections. The document says LNG
exports will continue to grow in coming years but at a slower pace than
previously expected; these assumptions will be used to update the federal budget
through 2029. Earlier this month Russia cut 2026 oil-output guidance to a
17-year low and revised this year and next year's fuel export outlook due to the
conflict.
