Energy Market Update 13/01/2026

Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy sector. Whether it’s fluctuations in oil and gas prices, changes in renewable energy policies, or updates on energy infrastructure projects, we’re here to help you stay informed. Join us as we break down the most important factors influencing the market this week, and explore what these changes could mean for your business.

Current Market Drivers:

🌍 Geopolitical risk remains elevated. Protests in Iran, renewed Russia–Ukraine tensions, and concerns around potential US military options in Greenland are unsettling NATO relations and adding a layer of risk support to energy markets.

❄️ EU gas storage is currently around 54% full, down 12% year-on-year. Some analysts expect levels to dip below 30% by the end of winter, potentially driving an additional 10 bcm of LNG demand over the summer.

🚢 UK LNG imports for Jan-26 are already up 120% vs Jan-25, with further time to secure cargoes. Asia has lost its premium over Europe, while US LNG exports sit at all-time highs, helping cap upside risk despite tighter fundamentals.

🌍 Turkey’s one-year extension of its Gazprom agreement from Jan-26 has eased some regional supply tightness, particularly as Ukraine becomes increasingly reliant on imported gas flows.

⚙️ UK network and policy charges from April 26 are forecast to push non-commodity costs up by 55% by 2030, adding further pressure to already challenged industrial demand.

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