MAKE CHANGE POSSIBLE.

We understand the 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.

Bearish Drivers
• Another monthly record forecast for LNG send out.
• Softer heating demand in both UK & North West Europe with temperatures remaining mostly above or around normal.
• North West Europe storage inventory to end March above 2018 levels and back in the 5-year range.
• Potential de-escalation at the Ukraine border would lead to de-risking across the near curve.
• Strong levels of wind generation are forecast to continue into March in both UK and Germany, gas for power demand remains lower than normal.
• Industrial demand in both NWE and UK remains impacted by the high price environment.

Bullish Drivers
• Risk for colder weather than currently forecast and subsequent ramp-up in demand.
• North West Europe LNG send out may be impacted by Qatar maintenance and or cooler temperatures in Asia.
• Any escalation in the Russian-Ukrainian conflict, if Russia does invade, prices would surpass the previous highs observed in Dec and NS2 would no doubt be sanctioned.
• Any unplanned outages on the NCS and UK Continental Shelf after a relatively unplanned maintenance-free start to the year.
• Any further outages on the much-maligned French Nuclear sector.