Weekly Market View – w/c 7th February, 2022
Market Drivers – February
We understand the business energy market can be challenging.
Our specialists compile a Market Drivers report each month.
We have highlighted Bearish drivers, expected to contribute to the market lowering, and Bullish drivers, expected to contribute to the market going higher.
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- Bearish Drivers
- Strong arrivals of LNG should continue.
- Outlook for slightly milder than normal weather in NWE.
- Stronger incentives for buyers to increase take under the Russian contracts.
- Norwegian and UK producers to continue maximizing supply.
- NWE storage inventory to narrow its gap to the previous Year.
- Bullish Drivers
- NWE storage inventory will remain record low by the end of February.
- Risk for colder weather than is outlined by the latest forecast
- The escalation of the Russian-Ukrainian conflict and any military intervention could mean further actions delaying the Nord Stream2 pipeline.
- Reduced French nuclear capacity availability and a risk for this to extend and lift gas for power demand.