Intellasia East Asia News – Nuclear power key to Japan’s energy security and carbon neutrality goals, says minister

Nuclear power will be essential for Japan’s energy security as the country aims for carbon neutrality, Japanese Minister of Economy, Trade and Industry Yasutoshi Nishimura said.

“I believe that nuclear energy is important because we are working towards carbon neutrality while guaranteeing energy security. We are moving towards planning for an increase in the global level of dependence on nuclear energy,” Nishimura told CNBC’s Silvia Amaro on the sidelines of the G-20 ministers’ meeting in Indonesia on Saturday.

Nuclear power has often been presented as an important option for decarbonization. In May, Japanese Prime Minister Fumio Kishida announced that the country would take steps to restart idle nuclear power plants to stabilize energy supply and prices.

Nishimura added that Japan has secured 10 factories for reactivation and is working to reactivate seven more starting next year. The minister stressed the importance of safety while acknowledging the accident at the Fukushima Daiichi nuclear power plant in 2011, when a massive earthquake and tsunami triggered the world’s worst nuclear disaster since Chernobyl in 1986.

“The price of natural gas and the price of energy are skyrocketing internationally…the energy market is tight,” Nishimura said. On Friday, Russian energy giant Gazprom said it would halt gas flows to Europe through the Nord Stream 1 pipeline indefinitely, citing the need for further repairs.

“If Japan reactivates a nuclear power plant, it produces 1 million tons of energy, which allows Japan to have secure energy and potentially be self-sufficient,” Nishimura added.

Japan currently depends on imports for 94% of its energy supply.

Russian oil price peak

The G-7 countries agreed on Friday to impose a cap on Russian oil prices to reduce the flow of funds to Moscow’s war chest and lower the cost of oil to consumers.

Asked about the price cap, Nishimura said he was balancing a few considerations:

“We would like to consider the establishment of a stable crude oil market, as well as a stable supply and security of crude oil imports in Japan, and while taking this into account, continue to cooperate with G-countries. 7.”

Category: Japan

Print this article

Be the first to comment

Leave a Reply

Your email address will not be published.