November 28, 2019 / 7:02 AM / 13 days ago

German gas imports rise 25.6% y/y in Jan-Sept, bill up 8.8%

FRANKFURT, Nov 28 (Reuters) - Germany imported 25.6% more gas in the first nine months of 2019 than a year earlier and its import bill rose by 8.8%, according to official data from trade statistics office BAFA.

The volume of imports in January-September was 4,109,922 terajoules (TJ), amounting to 117 billion cubic metres (bcm).

German importers paid 18.6 billion euros ($20.50 billion) during the period, 8.8% more than a year earlier for their gas, which is linked to crude oil prices.

Gas, power and carbon traders watch gas imports because possible imbalances in supply and demand can change prices and traded volumes in all three markets, which are also related to that for global coal.

There is abundant gas supply in Europe as winter approaches.

German gas stocks were at 98.7% of available storage capacity this week, European gas infrastructure group GIE’s website showed. That compared with 83.1% a year earlier.

Germany mainly imports from Russia, Norway, the Netherlands, Britain and Denmark via pipelines while imports of liquefied natural gas (LNG) are also increasing in the region. BAFA does not specify origins.

The average price paid on the border over the nine months fell by 13.5% year-on-year to 4,521.80 euros, BAFA said.

Looking at September alone, the gas price dropped 35.6% year-on-year to 3,571.64 euros, equivalent to 1.29 euro cents per kWh. ($1 = 0.9073 euros) (Reporting by Vera Eckert, Editing by Subhranshu Sahu)

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