FRANKFURT: Germany imported 19.5 percent more natural gas in January through May versus a year earlier, while higher crude oil prices – to which the contracts are linked – meant costs rose 37.7 percent, official data showed on Monday.
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.