Moscow, Sept. 23 (Petra) -- Russia’s Ministry of Economic Development lowered its natural gas production forecast for the current year on Wednesday to approximately 683 billion cubic meters (bcm), representing a reduction of 5.3 bcm from its previous projection issued in May.

In an official statement, the ministry said the revised estimates incorporate updated production and export figures, which will be utilized to adjust the draft federal budget.

The ministry explained that the downward revision in gas output and export volumes reflects deteriorating economic relations and their impact on foreign market demand and future trade expectations.

//Petra// AF