Nuclear energy shall be key for Japan’s power safety because the nation targets carbon neutrality, stated Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura.
“I believe that nuclear power is important as we work towards carbon neutrality while ensuring energy security. We are in the direction of planning to increase the overall dependency level in nuclear energy,” Nishimura instructed CNBC’s Silvia Amaro on the sidelines of the G-20 ministers’ assembly in Indonesia on Saturday.
Nuclear energy has usually been touted as an essential choice for decarbonization. In May, Japanese Prime Minister Fumio Kishida introduced the nation will take steps to restart idled nuclear energy vegetation in efforts to stabilize power provide and costs.
Nishimura added that Japan has secured 10 vegetation for reactivation and is working towards reactivating seven extra beginning subsequent yr. The minister emphasised the significance of security whereas acknowledging the 2011 Fukushima Daiichi Nuclear Power Station accident, when an enormous earthquake and tsunami triggered the world’s worst nuclear catastrophe since Chernobyl in 1986.
“The price of natural gas and the price of energy are soaring internationally… the energy market is tight,” Nishimura stated. On Friday, Russia’s state-owned power large Gazprom stated it might indefinitely halt gasoline flows to Europe by way of the Nord Stream 1 gasoline pipeline, citing the necessity for extra repairs.
“If Japan reactivates one nuclear plant, it produces 1 million tons’ worth of energy, making it possible for Japan to have secure energy and potentially be self-sufficient,” Nishimura added.
Japan presently is dependent upon imports for 94% of its power provide.
Price cap on Russian oil
When requested concerning the worth cap, Nishimura stated he’s balancing a number of issues:
“We would like to consider the establishment of a stable crude oil market, and also a stable supply and security of crude oil imports to Japan, and while taking this into account, continue to cooperate with the G-7 countries.”