Japan Utilities Lobby Head: Alternative Procurement Measures In The Event Of A Halt To Russian LNG Imports Will Be Decided By Each Company

Oct 17 (Reuters) - Japan Electric Utilities Lobby Head:

• JAPAN MAY NEED TO BUILD 5.5 GW OF NUCLEAR POWER REACTORS TO REPLACE EXISTING FACILITIES IN 2040S TO SECURE STABLE POWER SUPPLY

• JAPAN MAY NEED TO REPLACE 12.7GW-16 GW OF NUCLEAR POWER IN 2050S

• RUSSIA IS AN IMPORTANT SOURCE OF JAPAN’S LNG IMPORTS IN TERMS OF FUEL DIVERSIFICATION AND STABLE SUPPLY

• GIVEN DIPLOMATIC IMPLICATIONS, WE WILL CONSULT WITH POWER COMPANIES AND JAPAN GOVERNMENT AND CLOSELY MONITOR FUTURE DEVELOPMENTS IN PROCUREMENT OF RUSSIAN LNG

• ALTERNATIVE PROCUREMENT MEASURES IN THE EVENT OF A HALT TO RUSSIAN LNG IMPORTS WILL BE DECIDED BY EACH COMPANY

• JAPANESE POWER COMPANIES IN GENERAL WANT TO CONTINUE TO USE RUSSIAN LNG AS IT PLAYS A SIGNIFICANT ROLE IN FUEL PROCUREMENT

• U.S. SHALE GAS IS ATTRACTIVE DUE TO ITS LOW GEOPOLITICAL RISKS, ABUNDANT RESERVES, AND PRICE STABILITY, BUT PROCUREMENT DECISIONS DEPEND ON EACH COMPANY'S JUDGMENT AS PART OF FUEL DIVERSIFICATION EFFORTS

• RESTART OF TOKYO ELECTRIC'S KASHIWAZAKI-KARIWA NUCLEAR REACTOR IS OF GREAT IMPORTANCE FOR JAPAN’S ENERGY STABILITY AND DECARBONIZATION EFFORTS