BERLIN: German natural gas imports for January-July fell 7.8 percent from a year earlier while cheaper oil, to which the contracts are linked, meant that costs fell by more than a third, official data showed on Friday.
The gas import bill of 9.2 billion euros ($10.28 billion) in the seven months was down 36.6 percent year on year, 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, though the importance of virtual gas trading points for spot supplies is also increasing. Russia, Norway, the Netherlands, Britain and Denmark are Germany’s top suppliers. BAFA no longer offers a breakdown of supply from each country.
