Home / Commodities / Freight News / Germany’s Jan-March gas imports up 15.7 pct, bill 24.6 pct higher

Germany’s Jan-March gas imports up 15.7 pct, bill 24.6 pct higher

Germany imported 15.7 percent more natural gas in January-March versus the same period last year, paying 24.6 percent more as oil-linked gas prices followed crude higher, data from trade statistics office BAFA showed.

The import bill in the three months came to 7.6 billion euros ($8.96 billion) against 6.1 billion a year earlier, the data showed.

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

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.

BAFA gave the following details:

                      Mar 2018       Mar 2017      Pct change
 Gas border price      **5,498.50       4,818.95      +  14.1
 (in euros/TJ)*                                   
                                                  
                                                  
 Gas imports (TJ)         526,552        441,567       + 19.2
                                                  
                                                  
                                                             
                                                  
 
    
                    Jan-Mar 2018     Jan-Mar 17   Pct change
 Gas imports           1,429,431      1,235,670       + 15.7
 volume (TJ)                                     
                                                 
 Avg gas border         5,294.62       4,922.27        + 7.6
 price (in                                       
 euros/TJ)                                       
 Total value of              7.6            6.1       + 24.6
 imports (bln                                    
 euros)                                          
    
    * 1 terajoule = 278,000 kilowatt-hours (kWh), 1 bcm = 35,170
TJ
 ** equivalent to 1.98 cents/kWh

Source: Reuters (Reporting by Vera Eckert; Editing by Mark Potter)

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