German gas imports rise to two-year high in October

Germany’s natural gas imports that are mostly bound in long-term delivery contracts rose to at least a two-year high during October. This was because the import price moved to a discount compared to volume bought over-the-counter (OTC) during the second half of the month.

The German Federal Office of Economics and Import Control recorded a total 114TWh imported during October, 19% more than during September and 4% more than in the same month a year ago.

ICIS looks at the price interrelationship between German OTC hub-indexed gas and gas imported via long-term supply contracts, which are mostly oil-indexed, in the context of the recent recover oil price recovery, which has seen the Brent crude price approach $50.00/bbl.

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