Japanese Prime Minister Fumio Kishida said today that his country would use nuclear reactors to reduce its dependence on Russian energy.
Japan relies heavily on Russian gas after shutting down nuclear reactors following the 2011 Fukushima nuclear disaster and tsunami.
However, as he faces elections in July and rising energy prices are squeezing voters’ budgets, Kishinda said nuclear power would be part of the country’s future energy policy.
According to the Japanese Prime Minister, Japan will address “the vulnerable nature of its energy self-sufficiency” by expanding the sources from which it buys energy, promoting renewable energy sources and using nuclear energy to diversify its sources.
“We will use nuclear reactors with safety assurances to help reduce global dependence on Russian energy,” Kishida told an audience in the London-based business district of the British capital.
“The reopening of just one of the existing nuclear reactors would have the same effect as the supply of 1 million tonnes of new LNG (liquefied natural gas) per year to the world market,” he said.
The Japanese Prime Minister addressed the City of London with messages in favor of investments. “Japan is an opportunity,” he told potential investors at the medieval Guildhall in the heart of the city.
In a world of geopolitical instability, Kishida argued that Japan could stand out.
He pledged to double foreign direct investment to 80 trillion. yen ($ 617 billion) or 12% of GDP in 2030, from the current 43.5 trillion yen, and will encourage companies to raise wages and spend more on research and development.
“Of course Japan faces many challenges,” he said. “But I am prepared to lead reform efforts to address these challenges head-on.”
“Sustainable development; stable markets; and safe, reliable companies, products and services. “That’s why Japan is an opportunity.”
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