FRANKFURT: Germany imported 17.3pc more gas in the first five months of 2019 than a year earlier and its import bill rose by 16.3pc, official data showed on Friday.
The volume of imports in January through May was 2,234,332 terajoules (TJ), amounting to 63.5 billion cubic metres (cbm), according to trade statistics office BAFA.
German importers paid 11.4 billion euros ($12.8 billion) for gas during the period, against 9.8 billion a year earlier.
The higher bill, despite a small year-on-year fall in oil prices over the period, mainly reflected a sharp increase in volumes received in May. At 421,005 TJ volumes were up 27.9pc year on year.
Gas, power and carbon traders watch gas imports because possible imbalances in supply and demand can change prices and traded volumes in all three markets.
There is currently abundant supply in the summer season.
German gas stocks were at 84pc of available storage capacity this week, European gas infrastructure group GIE's website showed. That compared with 75pc a year earlier.
Germany mainly imports gas from Russia, Norway, the Netherlands, Britain and Denmark via pipelines.
Europe's imports of liquefied natural gas (LNG) are also increasing.
The average BAFA-quoted price for pipeline gas on the German border in May was 4,263.59 euros/TJ, equivalent to 1.53 euro cents per kilowatt hour (kWh), down 16.5pc from a year earlier.
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