Germany's economy minister said they will pass a bill by April that ensures gas storage facilities are at full capacity at the beginning of winter.
The law of unintended consequences is in full display here. Germany doesn't produce natural gas so they can't magically make it appear. They have to buy it on the global market. They're not exactly making friends with Russia now and if it's not from there, they won't be the only one fighting for LNG cargoes from the US, Qatar and Australia.
All this does is introduce a price-indiscriminate buyer into the European market.
Here is where we stand with front-month TTF:
I think it's safe to pencil in another squeeze higher next autumn.
