Norway is making huge money on the disturbances in the world. The price of both oil and gas have jumped lately, giving Norway a possible extra income of some NOK 50 billion (€ 6,3 billion) annually.
The price of gas on the European market has gone up 12-14 percent since last Thursday. Market analytic Lill Sandvik in Bayerngas Norway believes the prices will stay high: - Japan will need more gas in the future to cover up for the lost nuclear power, she says to NRK.
Japanese plants for import of LNG have not been destroyed, and they are capable of increasing imports of natural gas quite fast, Sandvik states.
The earthquake has shut down 9,700 megawatts of nuclear capacity, equivalent to about a fifth of the country’s total capacity, Financial Times writes.
Sandvik believes that the fear of nuclear power will make more countries put away plans to develop new nuclear power stations for a long time ahead, and that the demand for natural gas will go further up.
Read also: Japan nuke disaster can trigger Shtokman investment
