Photo of John Hemming

John Hemming (Birmingham, Yardley, Liberal Democrat)

To ask the Secretary of State for Trade and Industry pursuant to the answer of 19 April 2006, Official Report, column 675W, on gas supplies, if he will provide his Department's detailed calculations based on the IMF data and the Royal Bank of Scotland data which were used as the basis for the statement on German gas prices.

Photo of Malcolm Wicks

Malcolm Wicks (Minister for energy, Department of Trade and Industry; Croydon North, Labour)

The information is as follows:

As at December
2004 2005
IMF Data: Russian Natural gas border price in Germany (US$/thousand cubic metres) 156.24 250.56
RBS Data: US$: Euro exchange rate 0.74596 0.84371
Conversion of thousand mcm to Mwh 1000 cm= 11.06 Mwh
Russian gas at German border price (Euro/Mwh) 10.54 19.11
Increase over 2005 80 per cent

Notes:

IMF data is publicly available (from http://www.imf.org/external/np/res/comnaod/index.asp) and has been converted to standard European units for the sale of gas using Royal Bank of Scotland publicly available exchange rate data (from http://www.rbs.com/content/media_centre/rbs_and_the_economy/rate_calculator/) and appropriate conversion rate

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