Can anyone identify this noise?
 

Whatever it is, spins fast.

On the clip, car moves forward/backward. Does the noise go if stationary?

At this moment, my suspects would be:

Unlikely, but still- water pump.
Check by ear/screwdriver method, it's just below and right from cam belt cover.

Pas pump.

Is engine hit enough to start radiator fan?

Manual or automatic?

Clutch gone?

Or, assuming that noise is there only if car rolls backward, maybe gearbox issue?

Best to listen which part of engine bay it's coming from.

I've heard a similar sound when the PAS reservoir is low, but it normally occurs when lock is being applied.

That's what I thought, too..

But it doesn't look (on the clip) that steering is being moved right-left..

It's a manual v40 2.0t 2001 Water pump changed 3 years ago.
I have changed the servo pump and aux belt tensioner recently but noise remains.
Noise occurs as I release the clutch and balance it with the accelerator. Normal clutch movements..no slipping and goes through the gears. No noise from the clutch when pressed down and held or released.
Totally baffled

Similar noise from my PAS when on full lock even though fluid level is correct. Mine is an old 1992 940 with mechanical PAS pump.
Does the noise appear when clutch is only partly released, ie being slipped?

It Only happens when i release the clutch and balance the clutch and acceleration. I don't need to lock the steering to create the noise.

What about clutch release bearing ?
Some Land Rovers with the TD5 engine did/do this.
Just a thought.

So you are “slipping” the clutch.
My guess would be clutch release bearing about to give up.

I get the same noise occasionally from my clutch, not so much from slipping the clutch but just after it bites. No idea what causes it but it's been doing it for years. I have got a leak from the crankshaft oil seal so I wonder if it's due to some minor contamination of the clutch plates. It's after the clutch is released so I'd doubt release baring problem and it's different to when I did have a release bearing fail.

(repeat, it's not enough to notice the clutch slipping or snatching and it's been doing it for years so I don't think a catastrophic failure is about to happen)