Russia draft lowers 2026 gas output and LNG forecasts

Russia’s Ministry of Economic Development has drafted lower forecasts for 2026 natural gas production and liquefied natural gas exports, according to a government document reviewed by Reuters. The draft puts gas output at 683.1 billion cubic meters, down 5.3 billion cubic meters from a May projection, and LNG exports at 35 million tons, 5.3 million tons below an earlier expectation. The figures are attributed to a draft forecast expected to inform an update to Russia’s federal budget through 2029. The production estimate would nevertheless exceed the 662.7 billion cubic meters recorded in 2025. The draft projects seaborne LNG exports will rise from 30.3 million tons in 2025, but at a slower pace than previously expected. A separate report gives different ministry projections: 688.4 billion cubic meters of gas production and 40.3 million tons of LNG exports for 2026. The available reporting does not establish whether those numbers come from another version of the forecast or a separate document. The two sets of estimates therefore remain unresolved, and the final government outlook is not established by the material available.