Russia Predicts Significant Rise in European Gas Prices by 2026
Moscow: Kirill Dmitriev, Special Representative of the Russian President for Investment and Economic Cooperation with Foreign Countries, stated that the resumption of Russian gas demand by European countries will take time. Without providing further details on the likely timeline for this return, he emphasized that energy market developments will inevitably force Europe to reconsider its gas supply sources. Dmitriev also said that natural gas prices in Europe will be about 40 percent higher than previous forecasts in 2026. According to him, the increase in energy prices could place heavy pressure on the industrial sector and households in European countries. Following the reduction of Russian gas imports by Europe due to political tensions and sanctions, European countries have sought alternative energy sources—an issue that continues to cast a shadow over the global energy market.
