crystol-title-company-overview
crystol-title-tailored-advice
crystol-title-animation2
crystol-title-news-main
crystol-title-tailored-advice2
crystol-title-case-studies-main

Oil & gas markets and geopolitics

In this interview with Nour Amache from Asharq Business Bloomberg, Dr Carole Nakhle, CEO of Crystol Energy, discusses the current dynamics of the European gas markets amidst the tensions over Ukraine and provides an outlook for the oil markets for 2022.

A relatively warmer than usual winter has moderated demand for electricity and heating, thereby softening the impact of the gas crisis. The statement of US President Biden on killing Nord Stream II gas pipeline should Russia invade Ukraine will impact future gas supplies to Europe. However, higher prices have attracted and will continue to attract supplies particularly from Norway, Qatar, North Africa and the US while the dynamics in Asian markets will continue to influence LNG prices.

The current US position with respect to Nord Stream II is aligned with former President Trump’s stance. In 2018, the US and EU announced cooperation on energy whereby the US committed to supporting the EU in its energy diversification strategy and which would include obtaining more LNG from the US to help the continent reduce its dependence on Russian gas.

On the nuclear talks with Iran, Dr Nakhle said that major investment banks have already factored in that a deal is likely to be reached this year and which would exercise a downward pressure on oil prices. In addition to Iranian supply, any de-escalation of the Ukrainian problem will also reduce the geopolitical risk premium. Furthermore, additional supplies particularly from the US, Norway, Canada, Brazil and Guyana are expected to hit the market this year.

Watch the discussion (in Arabic):

Related analysis

Oil markets: What crisis?“, Dr Carole Nakhle, Nov 2021

European gas crisis – the new normal“, Dr Carole Nakhle, Nov 2021

Related Comments

Did Russia deliberately cause the gas crisis in Europe?“, Dr Carole Nakhle, Jan 2022

How nuclear talks with Iran could impact the oil market“, Dr Carole Nakhle, Jan 2022

Iran and the West: What will happen if a deal is reached?“, Dr Carole Nakhle, Dec 2021

Major risks for energy markets in 2022“, Dr Carole Nakhke, Dec 2021

Germany suspends certification of Nord Stream II“, Christof Rühl, Nov 2021

Share this:

Recent Posts

Why Angola left OPEC

As OPEC strived to prop up oil prices with production limits for its members, Angola was caught between the organization’s policies and its own interests.

Read More »

Categories