money Japan can help ease Europe's energy crisis by restarting more nuclear power plants, IEA chief says
Re-starting nuclear power plants in Japan could help ease Europe's energy crisis, according to IEA chief Fatih Birol.
"Japan will import less LNG and more LNG will become available in the market, helping Europe survive for the next few months," he said.
Europe is contending with a supply crunch ahead of winter as Russian cuts gas flows.
Restarting nuclear power plants in Japan could be a key aid to Europe's energy crisis, according to International Energy Agency Executive Director Fatih Birol.
More nuclear energy would be "a big help for Europe during the winter," he said. With more nuclear power plants operating in the country, "Japan will import less LNG and more LNG will become available in the market, helping Europe survive for the next few months," he added.
Russia has cut gas to much of Europe and has been accused of weaponizing energy retaliation for Western sanctions that were imposed after Moscow invaded Ukraine.
While gas prices have come off recent highs, they remain elevated and global competition for liquefied natural gas shipments is heating up as European and Asian countries scramble for supplies.
Japanese Prime Minister Fumio Kishida previously has said restarting one reactor could free up roughly 1 million tons of LNG a year.
Japan announced plans in August to revive more idled plants and develop next-generation nuclear power technology, marking a major shift in policy after turning away from nuclear power in the wake of the Fukushima disaster.
For now, Japan is operating six reactors with several others going through a safety relicensing process.
Read the original article on Business Insider
