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Thursday, March 17, 2011


IEA Monitoring Energy Situation in Japan

16 March 2011

The IEA continues to monitor the energy situation in Japan very closely and is in regular contact with officials in the Japanese government and other IEA member countries. The impact of the earthquake and tsunami on energy supplies is still evolving. Some 11 nuclear power reactors are offline in the affected area. Six oil refineries were initially closed, representing 1.4 million b/d or 30% of Japan’s total refining capacity, but at least three refineries – the 175,000 b/d Chiba refinery, the 270,000 b/d JX Nippon Oil & Energy (Negishi) refinery and the 335,000b/d Kawasaki refinery – were expected to be back online soon, according to their respective owners. Against this background, the Japanese government has decided to reduce industry stockholding obligations by three days and has informed the IEA accordingly. This reduction represents some 8 million barrels of oil. It should be remembered however, that Japan holds some 170 days of stocks in terms of net imports, well above the IEA requirement of 90 days. 

In terms of the impact of events on nuclear energy more broadly, it is still too early to determine until in-depth analysis of the causes of the accident can be completed. It is clear that there will be lessons to be learned. Current questioning from the public and decision-makers is certainly understandable given the circumstances. The IEA continues to advocate the use of a mix of safe, clean, reliable energy sources based on the natural endowment and national views of each country.

Source and/or read more: http://goo.gl/qwCTN


Publisher and/or Author and/or Managing Editor:__Andres Agostini ─ @Futuretronium at Twitter! Futuretronium Book at http://3.ly/rECc