Japan plans to build next-generation nuclear power plants to reduce its carbon emissions to zero by 2050. The relevant draft will be instructed to be prepared by Prime Minister Fumio Kishida at a government meeting on 24 August, informs Nikkei cites sources.
This measure will help prevent the risk of power outages and increase its production. Japanese authorities want to restart 17 nuclear power plants by the summer of 2023. The construction of new nuclear power plants is scheduled for 2030. Next-generation plants will have safer light water reactors.
After the accident at the Fukushima nuclear power plant in 2011, the construction of new power plants in Japan was virtually banned. However, the Kishida project could be a turning point for the entire energy sector of the country. In addition to the plan to build new nuclear power plants, Kishida will also propose extending the life of existing nuclear power plants and individual reactors.
August 22 Wall Street Journal knowledgeable on the growth of competition between European and Asian countries for liquefied natural fuels. LNG demand in South Korea and Japan has increased sharply recently due to the heat.
LNG prices in the spot market in summer grew up so much that not all Asian countries in the region can afford to buy energy. The cost of LNG on the Japanese exchange in mid-August reached almost $60 per 1 million BTU, which is 12 times higher than the average summer price through 2019.