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Germany imported 9.7pct more gas in 2018, value up by 23.4 pct

Gasoil News - Published on Tue, 19 Feb 2019

Image Source: Oil Price
Reuters reported that Germany imported 9.7 percent more gas in 2018 than the year before and raised its import bill by 23.4 percent. The volume of imports from January through to December was 4.45 million Terajoules (TJ) or 126 billion cubic metres, according to trade statistics office BAFA, which releases data with a time lag.

German importers paid EUR 23.7 billion for gas in the year, mirroring a rise in oil prices. Traders of gas, power and carbon watch winter gas imports especially as possible imbalances in supply and demand can drive up prices and volumes in all three markets.

Europe's biggest economy uses gas for industry, heating homes and power generation.

Germany's gas supply is mainly imported from Russia, Norway, the Netherlands, Britain and Denmark via pipelines.

Europe on the whole is increasingly absorbing volumes of liquefied natural gas (LNG) arriving on specialised vessels from the world market, namely the US, a trend which has boosted storage levels and pushed down price spreads.

Source :

Posted By : Rabi Wangkhem on Tue, 19 Feb 2019
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