Japan Planning To Build Up To 8 LNG-Fired Thermal Power Plants By 2030 - Reports

TOKYO (UrduPoint News / Sputnik - 04th December, 2022) The Japanese Ministry of Economy, Trade and Industry is considering building seven or eight thermal power plants working on liquefied natural gas and putting them into operation by 2030, Japanese financial newspaper Nikkei reported on Sunday, citing sources.

According to the newspaper, the ministry is going to cooperate with private companies by covering their building and investment costs during the construction of new thermal power plants with a total capacity of 6,000 megawatts.

New LNG-fired power plants could cover up to 3% of Japan's peak demand in winter and summer, Nikkei said, adding that construction of such plants would require investments worth around 100 billion Yen ($745 million).

The newspaper also reported that the project's main goal would be to cope with projected power shortages in coming years amid uncertainties in the international market.

On Thursday, a power-saving campaign during the winter period started in Japan for the first time in seven years, with the government urging people and businesses to set heating temperatures low and take other measures to limit the use of electricity amid concerns about possible energy shortages.