The Tsunami that led to the Fukushima Daiichi nuclear reactor failure in 2011 transformed the energy market in Japan. Approximately one quarter of the nation’s nuclear reactors were taken offline for testing and repairs. Since then, only a handful have returned to service.
Gas-fired electrical power generation has grown to substitute the load on these nuclear reactors.
Because of this shockwave, the demand for liquefied natural gas (LNG) in Japan has grown tremendously and the country now ranks alongside China and South Korea as one of the world’s top three LNG importers.
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