Temperatures in Tokyo are expected to top 35°C, as the government calls for the public to curb electricity use
Japan faces energy supply crisis
The import-dependent nation is increasingly reliant on expensive spot LNG cargoes
The global energy supply crunch is exposing Japan’s vulnerability, as surging oil and gas prices have led to spiking electricity rates, prompting calls from the government for residents to conserve power. Japanese electricity prices are already trading at a record high for this time of the year, with day-ahead rates on the Japan Electric Power Exchange up by more than elevenfold from a year ago. The country issued a power warning for the first time in March after supply neared critical levels in Tokyo following an earthquake, leading to a higher burden on power retailers and end-users. At the end of June, the Ministry of Economy, Trade and Industry (Meti) extended an advisory calling for hou
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
19 November 2024
Energy minister says country is delaying first oil production until pipeline and refinery are ready
