Prices to fall if Nord Stream 2 is commissioned. But get ready for another bumpy year ahead. Key determinants of how prices will trend in 2022 are weather dynamics and the timing of Nord Stream 2 start-up. Wood Mackenzie’s analysis suggests that at current levels of Russian exports and considering normal weather conditions, European storage inventories will get below 15 billion cubic metres (bcm) by the end of March, a record low. Prices will eventually come down as the winter is through, but requirements to refill storage facilities will be high, some 20-25 bcm more than last year. The commissioning of Nord Stream 2 ... (full story)