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Japan's crisis will affect nuclear, oil, gas industries

03/28/2011
Sam FletcherSenior WriterThe unfolding crisis in Japan—the world's third largest economy and fifth largest energy user—has major implications for both the nuclear and the oil and gas sectors, said industry analysts.Adam Sieminski, chief energy economist, Deutsche Bank AG, Washington, DC, said, "The nuclear crisis in Japan may prove to be a very important development for the natural gas market. World gas consumption was approximately 300 bcfd in 2010. Since there are currently about 440 nuclear reactors globally, shutting down 40 of them for safety considerations and replacing with gas would boost gas consumption by up to 7 bcfd.Moreover, he said, "As much as 1.4 mill...
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