Baku: The International Monetary Fund (IMF) has revised its forecast for the average price of Azerbaijani gas, predicting a significant increase by 2026, as reported by APA-Economics. The IMF now estimates the price to reach $521.9 per 1,000 cubic meters, an increase of $141.5 or 37.2% compared to its earlier forecast of $380.4.

According to Azeri-Press News Agency, the IMF also adjusted its projections for 2027, raising the estimated price from $326.5 to $424.3, marking a $97.8 or 30% increase. For 2028, the forecast was increased from $287.1 to $312.1. The same average price of $312.1 is projected for 2029, 2030, and 2031, representing an 8.7% rise over previous estimates.

The IMF's report attributes these revised gas price forecasts to the baseline scenario developed within the framework of the World Economic Outlook (WEO) and an additional premium. It highlights that the ongoing conflict in the Middle East is contributing to higher oil and gas prices, positively impacting Azerbaijan's external sector indicators and budget revenues. The upward revision of energy prices in the IMF's final report, compared to February, indicates that these geopolitical factors were considered in the price assumptions.