Post Tagged with: "Fukushima"

Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

From Reuters An inexorable decline in spot market prices for liquefied natural gas (LNG) is pushing utilities in Japan to be more aggressive in price reviews built into traditional long-term contracts linked to oil prices, lawyers and analysts said. The utilities are also looking to buy more LNG on the spot market, where prices LNG-AS are plumbing three-year lows and are around half the average contract import price for buyers in Japan, the world’s biggest importer of the fuel for power generation and industrial use. The tougher stance marks a shift for Japanese utilities, which have long favored stability of supply over price, partly because they have been able to pass on costs to consumers. But liberalization in Japan’s energy markets means the old guard utilities are losing customers to new entrants and they are desperate to cut costs. “Given the gas and power markets liberalization and intensifying domestic competition[Read More…]

Japan Restarts its First Reactor since Powering Down after Fukushima

Japan Restarts its First Reactor since Powering Down after Fukushima

Five reactors in Japan are cleared for restart, but need local approval Yesterday, Japan restarted the Kyushu Electric Power Company’s 846 megawatt (MW) Sendai Nuclear Power Station Unit 1, marking the first reactivation of a nuclear power plant in Japan in two years. Following the disaster at Fukushima in 2011, Japan began a temporary shutdown of all nuclear power plants as each reactor entered scheduled maintenance and refueling outages.  By September 2013, all 54 reactors in Japan’s nuclear fleet were shut down. Following its restart, Sendai Unit 1 will begin generating electricity within days and return to normal operation in early September, according to the Energy Information Administration (EIA). Currently, there are five nuclear reactors in Japan that have approval from the Nuclear Regulation Authority (NRA), which was formed following the events at Fukushima, and an additional 19 with applications to restart at various stages in the NRA’s review process.[Read More…]

August 12, 2015 - 6:48 pm International, Oil and Gas 360 Articles