FRANKFURT, March 1 (Reuters) - Germany's natural gas
import costs more than doubled in 2022 despite volumes being
slashed by 30%, official data from the Federal Office for
Economic Affairs and Export Control (BAFA) showed.
Moscow's invasion of Ukraine last February triggered a spike
in energy prices and prompted Germany to seek alternatives to
Russian supply while imposing measures to curb use.
Germany's import bill increased to 74.0 billion euros
($78.74 billion) from 35.4 billion a year earlier, the BAFA data
showed.
Import volumes fell to 3,524,126 TJ, equivalent to 100.2
billion cubic metres (bcm), from 5,008,943 TJ a year earlier.
The average price paid at the border jumped 197.3% to
21,007.58 euros per terajoule (TJ).
The average import price in December stood at 26,050.71
euros/TJ, equivalent to 9.38 cents per kilowatt hour (kWh), and
was up 74% from a year earlier.
Helping spur Germany's hunt for alternatives to Russian
energy was the closure of the Nord Stream I gas pipeline from
Russia last August.
Germany in response bought more piped gas from European
neighbours and sought liquefied natural gas (LNG) imports, while
mild weather helped curb demand.
Still, the jump in prices and concerns about supply in
Germany have contributed to inflation and triggered fears of a
recession in Europe's biggest economy.
($1 = 0.9398 euros)
(Reporting by Vera Eckert, editing by Jason Neely)
@EckertVera;))
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