• 23 hours Shell Oil Trading Head Steps Down After 29 Years
  • 1 day Higher Oil Prices Reduce North American Oil Bankruptcies
  • 1 day Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 1 day $1.6 Billion Canadian-US Hydropower Project Approved
  • 1 day Venezuela Officially In Default
  • 1 day Iran Prepares To Export LNG To Boost Trade Relations
  • 2 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 2 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 2 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 2 days Rosneft Announces Completion Of World’s Longest Well
  • 2 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 2 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 2 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 3 days Santos Admits It Rejected $7.2B Takeover Bid
  • 3 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 3 days Africa’s Richest Woman Fired From Sonangol
  • 3 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 3 days Russian Hackers Target British Energy Industry
  • 3 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 3 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 3 days Lower Oil Prices Benefit European Refiners
  • 3 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 4 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 4 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 4 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 4 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 4 days OPEC To Recruit New Members To Fight Market Imbalance
  • 4 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 5 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 5 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 5 days GE Considers Selling Baker Hughes Assets
  • 5 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 5 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 5 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 5 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 5 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 8 days The Oil Rig Drilling 10 Miles Under The Sea
  • 8 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 8 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 8 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Alt Text

New Tech Is Transforming Japan’s Energy Sector

The tech that built bitcoin…

Alt Text

This OPEC Strategy Could Boost Uranium Prices Next Year

Kazakhstan, the world’s largest uranium…

Alt Text

Rising Costs Slow The Growth Of Nuclear Power

High costs and public fears…

Stuart Burns

Stuart Burns

Stuart is a writer for MetalMiner who operate the largest metals-related media site in the US according to third party ranking sites. With a preemptive…

More Info

Japan to Reconsider Nuclear Power in an Attempt to Guarantee Electricity Supply

Japan to Reconsider Nuclear Power in an Attempt to Guarantee Electricity Supply

Japan is facing an electricity crunch this summer, potentially so severe, that companies such as Komatsu, the world’s No. 2 maker of construction machinery, have said they will move factories overseas if electricity supply isn’t guaranteed.

Bloomberg reports that all but one of Japan’s 54 reactors are now offline after the March 11 earthquake and tsunami last year crippled Tokyo Electric Power Co.’s Fukushima Dai-Ichi nuclear station. The reactors, which previously supplied 30 percent of Japan’s electricity, have either been closed by the disaster, by government order or not allowed to restart after regular maintenance shutdowns. The remaining one reactor is due to close on May 5 for maintenance.

“Did You Pay the Gas Bill?”

As a result, Japan’s fuel import bill has sky rocketed. Liquefied natural gas imports rose to a record in 2011 as utilities have been forced to rely on fossil fuel power plants to replace idled reactors. Japan imported 1.75 million kilolitres of oil, or about 369,000 barrels a day, for power generation in February, more than four times as much as a year ago, according to data from the Ministry of Economy, Trade and Industry in a separate article, while imports for power generation were up 15 percent from January alone.

There seems to be a government-led imperative to get some of these nuclear plants back online as Kansai Electric, the utility most dependent on nuclear at 49 percent of generating capacity, warns it may fall nearly 20 percent short this summer. The company serves the Kansai area of western Japan that covers an area the size of Belgium, has an economy worth $1 trillion — about the size of Mexico’s — and is home to the cities of Osaka and Kyoto as well as factories of Sharp Corp. and Panasonic Corp., Bloomberg reports.

Bring Back Nuclear, They Say

Although much controversy remains, even some local politicians and the general public appear to be favouring re-starts as employment suffers in areas where plants dominate the local economies. Overseas reaction to nuclear energy post-Fukushima, however, vary. Germany still plans to close all its plants by 2020, and even in France questions are being asked about expansion to what is one of the world’s most comprehensive nuclear generating networks.

But emerging markets are still showing enthusiasm for nuclear power as a secure provider of low greenhouse gas-emitting base-load electricity.

In Turkey, China is said to be close to securing a contract to finance and build a plant on Turkey’s Black Sea coast, in spite of the Chinese touting older technology. China is developing newer technologies off its own back as it is prevented from poaching the technologies of Westinghouse and Areva, who are constructing plants for the Chinese in what is currently the world’s largest nuclear construction program — but don’t be surprised if the Chinese “discover” very similar solutions to the technical challenges solved by Western firms.

Meanwhile, Turkey already has another plant planned with a Russian manufacturer, and Russia’s Rosatom is said to be keen to bid for the construction of two plants in the UK’s program of plant replacements, according to the Telegraph. It would seem that while many countries share Japan’s safety concerns, the cost associated with the alternatives — whether they are self-inflicted by Co2 emission targets or real ones such as import bills – mean nuclear remains a viable alternative if not an outright necessity.

By. Stuart Burns




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News