Markets

Germany's Jan-May gas imports up 19.5pc, bill 37.7pc higher

Published July 17, 2017 Updated July 17, 2017 07:16pm

The January-May gas import bill was 9.5 billion euros ($10.9 billion), with the volume at 1,983,714 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