Home »Markets » Energy » Europe » Germany’s Jan-March gas imports up 16.9pc, bill 32.6pc higher

FRANKFURT: Germany imported 16.9 percent more natural gas in January through March versus a year earlier, while higher crude oil prices - to which the contracts are linked - meant costs rose 32.6 percent, official data showed on Thursday.

The January-March gas import bill was 6.1 billion euros, with the volume at 1,235,670 terajoules (TJ)*, data from trade statistics office BAFA showed.

Germany mainly imports gas from Russia, Norway, the Netherlands, Britain and Denmark.

BAFA no longer provides a breakdown of supply from each country, but Russia is the top supplier by far.

Many continental European gas prices under long-term supply contracts still track crude oil prices, with a time lag, though the importance of virtual gas trading points for spot supplies is increasing.


Copyright Reuters, 2017



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