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Germany's Jan-June gas imports up 20.8pc, costs up 39.2pc

Published Updated

FRANKFURT: Germany imported 20.8 percent more natural gas in January through June versus a year earlier, while higher crude oil prices - to which the contracts are linked - meant costs rose 39.2 percent, official data showed on Monday.

The January-June gas import bill was 11.0 billion euros ($12.96 billion), with the volume at 2,318,217 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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