Russia Is Cutting Back On Natural Gas Production
- 23.09.2026, 16:16
Last year, Russian gas exports to Europe fell by 44%.
The Ministry of Economy of the Russian Federation expects that less natural gas will be produced and exported this year than previously forecast. This was reported by Reuters, citing a draft government document.
Earlier this month, the publication reported that Russia had also lowered its oil production forecast for 2026 to a 17-year low and revised its fuel export forecast for this year and next due to the war against Ukraine.
Forecasts for natural gas production and exports were lowered amid a breakdown in economic and political ties with the West due to the war in Ukraine, as well as the European Union’s plans to completely stop purchasing Russian gas next year.
According to the draft forecast, natural gas production in Russia this year will total 683.1 billion cubic meters. This is 5.3 billion cubic meters less than forecast in May, but still more than the 2025 figure of 662.7 billion cubic meters.
This month, the Kremlin stated that Europe is harming itself by buying expensive gas on the spot market instead of cheaper Russian supplies. Moscow says it is ready to resume gas supplies to Europe, in particular via the “Nord Stream” undersea gas pipelines, one of whose lines remained undamaged after the explosions in September 2022.
Exports of Russian liquefied natural gas (LNG) by sea are expected to rise to 35 million metric tons this year, up from 30.3 million metric tons in 2025. At the same time, this is 5.3 million metric tons less than the previous forecast. LNG exports are expected to continue growing in the coming years, though at a slower pace than previously forecast.
According to Reuters calculations, Russian gas exports to Europe fell by 44% last year—to just 18 billion cubic meters. This is the lowest figure since the mid-1970s, following the cessation of transit through Ukraine. Russian pipeline gas exports to Europe peaked in 2018–2019 at about 180 billion cubic meters per year.