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After almost two years, Japan is likely to bring online a nuclear reactor this week, on Tuesday. Before 2011, when the country got devastated by massive Tsunami, which led to Fukushima Daichi disaster Japan was relying on mostly nuclear power for energy requirement.
In spite of being world's third largest economy, Japan is energy poor and at current situation with Nuclear power shut and weaker yen, Japan is very vulnerable to higher energy prices.
Numerous impacts of Japanese nuclear restart -
- It is very likely that Japan will slowly again shift to nuclear power, reducing dependence on oil and gas. However Japanese government is likely to put safety as priority one.
- The move is likely to put another strain on oil and gas as Japan has been major importer since the Fukushima crisis.
- Japanese trade surplus might improve rapidly once the import of oil and gas is reduced.
- With lesser energy imports, Bank of Japan (BOJ) might have improved grip over policy when oil prices rise.
However, full scale restart might take some more time. As of now, the No. 1 reactor at Sendai plant is expected to start generating power by Friday and likely to reach full capacity by September.
