German Gas Imports up 9% in Jan-May 2020

Germany's gas imports were 8.7% higher in the first five months of 2020 than a year before, the country's statistics office Bafa reported on July 28.

Imports totalled 2.55mn TJ in the period, up from 2.34mn TJ in the year before. Imports in May were up 8% year on year at 459,347 TJ.

The price paid on the border during the first five months of the year was €3,316 ($3,926)/TJ, down 36.2% yr/yr, while the price in May was €2,446, down 42.6% yr/yr and 10.6% month on month.

European gas prices have fallen to historic lows this year, as a result of earlier Covid-19 lockdowns, mild weather, high levels of gas in storage and extra LNG imports. But demand has grown in some countries like Germany, where cheap gas has displaced coal in the power sector.