Russia has revised its 2025 energy outlook, cutting forecasts for gas exports and production while raising oil export projections, amid ongoing fallout from its war in Ukraine and deteriorating relations with the West. Russian gas now makes up just 18% of EU imports, down sharply from 45% in 2021, while oil imports have plunged to 3% from around 30%. The EU aims to fully phase out Russian energy by 2027. Moscow has also scaled back expectations for sea-borne liquefied natural gas (LNG) exports, citing difficulties selling output from Arctic LNG 2, which began processing in late 2023 and is under U.S. sanctions. Despite these setbacks, Russia now expects oil exports to reach 240.1 million tons in 2025, up from a previous estimate of 229.7 million tons.
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