Japan and its basic energy plans are drawing global attention from coal, gas and oil producers. — Reuters
TOKYO: Japan wants renewable energy to account for up to 50% of its electricity mix by the financial year 2040 with nuclear power taking up another 20%, according to a draft of its revised basic energy policy, as it makes a clean energy push while meeting rising power demand.
As the world’s second-largest importer of liquefied natural gas (LNG) and a major consumer of Middle Eastern oil, Japan and its basic energy plans are drawing global attention from coal, gas and oil producers.
Thermal power usage, particularly from inefficient coal-fired power plants, is set to decrease to between 30% and 40% by 2040 from 68.6% in 2023, although the draft energy policy does not specify the breakdown of coal, gas and oil.
“It is necessary to utilise LNG-fired power as a realistic means of transition, and the government and the private sector must jointly secure the necessary long-term LNG contracts in preparation for risks such as price hikes and supply disruptions,” the draft said.
The Industry Ministry’s policy draft unveiled yesterday proposed increasing renewables to between 40% and 50% of power supplies in 2040, roughly doubling the 22.9% share in the financial year 2023. — Reuters
