The International Energy Agency has lowered its projection for Russian natural gas production in 2026 to 683 billion cubic meters, down from a previous estimate of 687 bcm.
The adjustment appears in the agency’s latest Gas Market Report, signaling a cautious view on the trajectory of Russian output despite recent growth momentum.
5% decline in global natural gas demand for 2026, driven by elevated prices curbing consumption among power generators and industrial users.
The revision follows data showing that Russian gas production increased by more than 4% year-on-year in the first five months of 2026.
While the short-term uptick suggests operational resilience, the IEA’s trimmed full-year forecast implies that this pace may not be sustainable or that downstream constraints could limit total annual volume.
This development adds nuance to the broader global gas market picture.
The IEA has previously forecast a 0.5% decline in global natural gas demand for 2026, driven by elevated prices curbing consumption among power generators and industrial users.