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Nuclear Delays to Boost Japan’s LNG Demand This Winter

LNG

The delayed restart of two Japanese nuclear generation facilities is expected to boost Japan’s LNG imports by 1% year on year in the October-March period according to BNEF.

  • The restart of Tokyo Electric Power’s 1.4GW Kashiwazaki-Kariwa reactor has likely been delayed to January 2024, from October this year previously scheduled.
  • Chugoku Electric was also getting ready to restart its 0.8GW Shimane No 2 reactor in 2Q24, but a newly released schedule confirms this will not happen before August next year.
  • Chugoku Electric could be undercontracted for LNG in 2024, given that volumes purchased under a recent tender weren’t made public. The utility currently relies on a single 0.4mn ton agreement with TotalEnergies for its LNG supply.
  • In total, these delays could boost LNG demand for electricity by 0.7mn tons across October 2023 to August 2024, as gas-fired power plants will likely ramp up to compensate for the lower nuclear generation.
  • Meanwhile, Tohoku Electric’s Onagawa No 2 reactor is still due to restart on schedule by February.
Energy BulletsPower BulletsBank of Japan (BOJ) Market NewsCommodities
Energy BulletsPower BulletsBank of Japan (BOJ) Market NewsCommodities

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