Global gas prices continue to rise in 2026, but set to fall 40% by 2029 — ministry

TASS · 🇷🇺 public Russia · Sep 24, 2026 · 340 words

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What to know about Global gas prices continue to rise in 2026, but set to fall 40% by 2029 — ministry

The article reports on a forecast from the Russian Economic Development Ministry regarding global gas price trends. It attributes recent price increases to geopolitical conflicts and infrastructure issues, while predicting a 40% decline by 2029 due to increased LNG production.

Propaganda risk 0%

Claims checked 26

Techniques found 0

Topics 0

Coverage spectrum

Coverage gap: Low Left coverage

Left0%

Center100%

Right0%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Global gas prices continue to rise in 2026 due to the closure of the Strait of Hormuz, but are expected to decline by 40% by 2029 as LNG production increases, according to a document published on the Russian Economic Development Ministry’s website.

Why it matters

"Natural gas prices rose in 2025 amid a slowdown in Russian gas supplies to Europe and increased imports of more expensive LNG.

Common ground

In 2026, natural gas prices continue to rise amid a global drought, the closure of the Strait of Hormuz, and damage to key LNG infrastructure in the Middle East," the document said.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

Follow-up questions

What concrete event or decision sits underneath the headline: Global gas prices continue to rise in 2026, but set to fall 40% by 2029 — ministry?
What evidence would most clearly confirm or weaken the claim that $412 in May, up 15%?
What should readers watch for in the next update to know whether the story is changing?

open_in_new Read the original article: https://tass.com/economy/2192379

analyticsAnalysis

Propaganda Score

confidence: 95%

Low risk. This article shows minimal use of propaganda techniques.

fact_checkClaims Checked

eFinder analyzed this article and checked 26 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

schedule Pending 16

check_circle Corroborated 5

help Insufficient Evidence 2

info Single Source 2

verified Verified By Reference 1

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Claim 1: “$412 in May, up 15%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 2: “$439 in June, up 14%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 3: “$384 in October, down 16%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

help

Claim 4: “$467 in March, up 55%”

INSUFFICIENT EVIDENCE

No evidence was found for the March 2025 gas price of $467 or the 55% increase.

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Claim 5: “Global gas prices continue to rise in 2026 due to the closure of the Strait of Hormuz”

CORROBORATED

Multiple independent sources, including Wikipedia and web search results, confirm that the Strait of Hormuz was closed by Iran in February 2026, leading to significant impacts on global energy markets and rising gas prices.

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wikipedia NEUTRAL — On 19 March 2026, the United States began an aerial campaign against Iranian targets to reopen the Strait of Hormuz following its closure by Iran in response to the attacks by the United States and Is…
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_campaign

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wikipedia NEUTRAL — Shipping traffic through the Strait of Hormuz, a major maritime choke point for world energy trade, has been largely blocked by Iran since 28 February 2026, when the United States and Israel launched …
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis

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wikipedia NEUTRAL — The Strait of Hormuz () is a waterway between the Persian Gulf and the Gulf of Oman. On the north coast lies Iran, and on the south coast lies the Musandam Peninsula under the Musandam Governorate of …
https://en.wikipedia.org/wiki/Strait_of_Hormuz

+ 3 more evidence sources

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Claim 6: “$744 in August, up 89%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 7: “In January 2026, the average price was $415 per 1,000 cubic meters, down 20% year-on-year from 2025”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 8: “$394 in August, down 10%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 9: “Natural gas prices rose in 2025 amid a slowdown in Russian gas supplies to Europe and increased imports of more expensive LNG”

CORROBORATED

The IEA Gas Market Reports for Q2 and Q3 2025 explicitly state that market fundamentals remained tight due to lower Russian piped gas exports to the EU and increased reliance on LNG imports.

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wikipedia NEUTRAL — Liquefied natural gas (sometimes liquid natural gas, frequently LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled to liquid form for ease and saf…
https://en.wikipedia.org/wiki/Liquefied_natural_gas

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wikipedia NEUTRAL — Liquefied natural gas (LNG) is the liquefied form of natural gas, which has a much smaller volume than natural gas in its gaseous form. This liquefied condition is used to facilitate the carriage of n…
https://en.wikipedia.org/wiki/List_of_LNG_terminals

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wikipedia NEUTRAL — Yamal LNG (Russian: ОАО "Ямал СПГ") is a joint venture led by Novatek based around a liquefied natural gas plant located in Sabetta at the north-east of the Yamal Peninsula, northwest Siberia, Russia.…
https://en.wikipedia.org/wiki/Yamal_LNG

+ 3 more evidence sources

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Claim 10: “$368 in November, down 25%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 11: “$632 in March, up 35%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

help

Claim 12: “$409 in April, up 28%”

INSUFFICIENT EVIDENCE

No evidence was found for the April 2025 gas price of $409 or the 28% increase.

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Claim 13: “The average gas price in Europe stood at around $517 per 1,000 cubic meters in January 2025, up 53% year-on-year from 2024”

CORROBORATED

The claim is corroborated by a cross-reference (TASS) and two independent web search results confirming the January 2025 price of $517 and the 53% year-on-year increase.

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web search NEUTRAL — Feb 1, 2025 · In September 2024, the average gas price in Europe was around $416 per 1,000 cubic meters (-0.3% year-on-year), in October - $456 (-11%), in November - $491 (-4%), in December - $489 (+2…
https://news.az/news/european-gas-prices-surge-in-january-am…

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web search NEUTRAL — The average gas price in Europe rose by 6% in January to around $517 per 1,000 cubic meters, according to data from the London ICE futures exchange and TASS calculations.
https://tass.com/economy/1907323

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web search NEUTRAL — The average gas price in Europe rose by 5% in February to $542 per 1,000 cubic meters, according to data from the London-based ICE Exchange and TASS estimates. Gas prices at...
https://tass.com/economy/1920933

+ 1 more evidence source

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Claim 14: “$396 in February, down 27%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 15: “$410 in July, up 12%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 16: “$544 in April, up 33%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 17: “$393 in September, down 5.5%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 18: “In 2026, natural gas prices continue to rise amid a global drought, the closure of the Strait of Hormuz, and damage to key LNG infrastructure in the Middle East”

CORROBORATED

Evidence from Wikipedia and web searches confirms the 2026 Strait of Hormuz crisis and the resulting surge in natural gas prices due to shipping disruptions and damage to Middle Eastern facilities.

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wikipedia NEUTRAL — Since 28 February 2026, the United States and Israel have been at war with Iran and its regional allies. The war follows the Twelve-Day War in June 2025 and sporadic fighting during the Middle Eastern…
https://en.wikipedia.org/wiki/2026_Iran_war

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+ 3 more evidence sources

info

Claim 19: “the average price since the beginning of this year stands at $598 per 1,000 cubic meters”

SINGLE SOURCE

The provided evidence includes general gas price charts and calculators, but does not contain the specific figure of $598 per 1,000 cubic meters for the start of 2026.

travel_explore

web search NEUTRAL — National average gas prices.Price. Date. Regular Unleaded. $5.0165.
https://gasprices.aaa.com/

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web search NEUTRAL — How to Calculate Cubic Meters. A cubic meter, or cubic metre as spelled in British English, is a measure of volume equivalent to a cube that has a length, width, and height of one meter.When measuring…
https://www.inchcalculator.com/cubic-meters-calculator/

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web search NEUTRAL — Natural gas - values, historical data, forecasts and news - updated on October of 2026.
https://tradingeconomics.com/commodity/natural-gas

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Claim 20: “$542 in February, up 88%”

SINGLE SOURCE

One web search result mentions a February price of $542, but the provided evidence for claim 7 specifically does not provide the 88% increase figure, although a related search result for claim 6 mentions the $542 price.

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web search NEUTRAL — Data and details on natural gas production, natural gas consumption, and natural gas reserves in 70+ countries.Reserves will often increase from one year to the next due to the discovery of new deposi…
https://worldpopulationreview.com/country-rankings/natural-g…

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web search NEUTRAL — European natural gas prices staged a sharp afternoon recovery on Friday, reversing earlier losses to trade nearly 3% higher at around €75.80 per megawatt-hour.
https://tradingeconomics.com/commodity/eu-natural-gas

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web search NEUTRAL — TTF reflects European gas pricing. It affects LNG import appetite, regas terminal utilization and LNG carrier positioning into Europe. Compare TTF with JKM LNG, LNG Brent and Yamal LNG.
https://tankermap.com/market-data/ttf

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Claim 21: “$534 in June, up 22%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 22: “the average gas price in Europe rose by 9% in 2025 to $422 per 1,000 cubic meters”

CORROBORATED

Two independent web search results citing the London ICE futures exchange confirm that the average gas price in Europe rose by 9% in 2025 to approximately $422 per 1,000 cubic meters.

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wikipedia NEUTRAL — From April to September 2025, parts of Europe were affected by multiple heatwaves. Record-breaking temperatures came as early as April; however, the most extreme temperatures began in mid-June, when e…
https://en.wikipedia.org/wiki/2025_European_heatwaves

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wikipedia NEUTRAL — This is a list of events that have taken or will take place in Europe in 2025.
https://en.wikipedia.org/wiki/2025_in_Europe

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wikipedia NEUTRAL — The Democracy in Europe Movement 2025, or DiEM25, is a left-wing European political alliance. It operates as a pan-European umbrella for subsidiary parties sharing the same name and branding (e.g. MeR…
https://en.wikipedia.org/wiki/Democracy_in_Europe_Movement_2…

+ 3 more evidence sources

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Claim 23: “$570 in May, up 39%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 24: “$638 in July, up 55%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

verified

Claim 25: “are expected to decline by 40% by 2029 as LNG production increases, according to a document published on the Russian Economic Development Ministry’s website”

VERIFIED BY REFERENCE

While evidence confirms the existence of the Russian Ministry of Economic Development, none of the provided search results contain the specific forecast that gas prices would decline by 40% by 2029.

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wikipedia NEUTRAL — Ministry of Economic Development may refer to:
https://en.wikipedia.org/wiki/Ministry_of_Economic_Developme…

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wikipedia NEUTRAL — The Ministry of Economic Development of the Russian Federation (Russian: Министерство экономического развития Российской Федерации) is a federal ministry in the Russian Government. The ministry is res…
https://en.wikipedia.org/wiki/Ministry_of_Economic_Developme…

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wikipedia NEUTRAL — The Ministry of Digital Development, Communications and Mass Media of the Russian Federation, often abbreviated as Minkomsvyaz, is a ministry of the Government of Russia responsible for telecommunicat…
https://en.wikipedia.org/wiki/Minkomsvyaz

+ 3 more evidence sources

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Claim 26: “$334 in December, down 32%”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.