Acasă » General Interest » Germany’s bill for gas imports doubled last year, in spite of decrease in volume

Germany’s bill for gas imports doubled last year, in spite of decrease in volume

1 March 2023
General Interest
energynomics

Germany’s natural gas imports cost double in 2022 compared to 2021, even though imported gas volumes fell by 30%, according to official data published by the German Federal Office for Economic Affairs and Export Control (BAFA) on Wednesday, Reuters reports.

The Russian invasion of Ukraine caused an explosion in energy prices and led Germany to look for alternatives to Russian gas and in parallel to impose measures to reduce gas consumption.

BAFA data shows that Germany’s bill for natural gas imports rose to 74 billion euros in 2022, from 35.4 billion euros in 2021, according to Agerpres.

The average price paid at the border exploded by 197.3%, up to 21,007.58 euros for a Terajoule [TJ].

The search for alternatives to Russian energy was stimulated by the closure of the Nord Stream I gas pipeline last August. In response, Germany bought more pipeline gas from neighboring European states and also imported liquefied natural gas, and mild winter weather also helped dampen gas demand.

However, the price explosion and worries about gas supplies in Germany have fueled inflation and sparked fears of a recession in Europe’s biggest economy.

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