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
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
