Germany’s gas imports decreased by 9% in November 2018 in comparison to the same month in 2017, according to Reuters. Yet, imports during the first 11 months, from January to November, experienced an increase of 9% than the same period , a year earlier.
Specifically, the overall imports from January to Novermber 2018, reached the 3.99 million Terajoules or 113 billion cubic metres, as reported in trade statistics office BAFA, which releases data with a time lag.
Also, German importers paid 21.2 billion euros for gas in the year to November, which is 23.3% more than 2017.
According to Reuters, traders of gas, power and carbon believe that winter gas exports are imbalanced in supply. Thus, demand can increase the prices and volumes in all three markets.
The majority of the European economy relies on the use of gas for industry, heating homes and power generation.
In addition, gas which is mostly imported from Russia, Norway, the Netherlands, Britain and Denmark, could take market share from coal, in the possibility of prices being competitive.
Germany’s main gas supplier, Gazprom, reported that its gas exports were increased by 3.1% year-on-year in the first half of January.
Concluding, German gas stocks were at 70.72% of available storage capacity on December 15, the European gas infrastructure group GIE website showed. This compared with 60.07% a year earlier.