Russia’s Ministry of Economic Development has lowered its 2026 natural gas production forecast to 688.4 billion cubic meters, a 0.3% decrease from the previous estimate of 690.4 bcm. Actual 2025 production stood at 662.7 bcm. Paradoxically, pipeline gas export forecasts were revised upward by 1.3% to 115.5 bcm, while LNG export targets remain unchanged at 40.3 million tons, up from the 30.3 million tons actually produced in 2025. This revision comes as the European Union mandates a complete phase-out of Russian gas imports by 2027 and logistics costs for rerouting to Asian markets have approximately doubled.
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