July 15, 2016 / 11:32 AM / in a year

TABLE-German Jan-May gas imports down 3.3 pct, costs down 34.3 pct

FRANKFURT, July 15 (Reuters) - Germany's January-May natural
gas imports fell 3.3 percent from a year earlier while cheaper
oil, to which the contracts are linked, meant costs fell by over
a third, official data showed.
    The gas import bill of 6.9 billion euros ($7.68 billion) in
the five months was down by 34.3 percent, data from trade
statistics office BAFA showed.
    Many continental European long-term gas supply contracts
still track crude oil prices with a time lag of about six
months.
    Russia, Norway, the Netherlands, Britain and Denmark are
Germany's top suppliers. BAFA no longer offers a breakdown of
supply from each.
    BAFA gave the following details:
    
                       May 2016     May 2015      Pct change
                        alone         alone      
 Gas border price     **3,615.14       5,866.80      -  38.4
 (in euros/TJ)*                                  
                                                 
 Gas imports (TJ)       293,754         364,122       - 19.3
                                                 
 
                    Jan-May 2016   Jan-May 2015   Pct change
 Gas imports           1,660,414      1,716,194       -  3.3
 volume (TJ)                                     
 Avg gas border         4,159.29       6,094.25       - 31.8
 price (in                                       
 euros/TJ)                                       
 Total value of              6.9           10.5      -  34.3
 imports (bln                                    
 euros)                                          
 * 1 terajoule = 278,000 kilowatt-hours (KWh)
 ** equivalent to 1.3 cents/KWh

($1 = 0.8981 euros)

 (Reporting by Vera Eckert; editing by David Evans)

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