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TABLE-Germany's January gas imports up 11.9 pct, costs up 25 pct
March 17, 2017 / 3:38 PM / 7 months ago

TABLE-Germany's January gas imports up 11.9 pct, costs up 25 pct

    FRANKFURT, March 17 (Reuters) - Germany's January natural
gas imports were down 11.9 percent year on year, paying 25
percent more as oil-linked gas prices followed more expensive
crude oil with a time lag, data from trade statistics office
BAFA showed on Friday.
    The import bill in the first month of the year came to 2
billion euros ($2.15 billion), against 1.6 billion euros 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.
    Russia, Norway, the Netherlands, Britain and Denmark are
Germany's leading suppliers. 
    BAFA no longer provides a breakdown of supply from each
country, but Russia remains Germany's top supplier by far.
    
    BAFA gave the following details:
    
                    Jan 2017       Jan 2016         Pct change
 Gas border price    **4,922.57       4,470.59          + 10.1
 (in euros/TJ)*                                 
                                                
 Gas imports (TJ)       410,805        367,248         +  11.9
                                                
 Value of gas       2.0 bln eur    1.6 bln eur         +  25.0
 imports                                        
 
 * 1 terajoule = 278,000 kilowatt-hours (kWh), 1 bcm = 35,170 TJ
 ** equivalent to 1.77 cents/kWh

($1 = 0.9316 euros)

 (Reporting by Vera Eckert; Editing by David Goodman)
  

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