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Tepco Lists Fuel Needs To Make Up For Nuclear Loss

Date: 07-Nov-11
Country: JAPAN
Author: Osamu Tsukimori

Tokyo Electric Power Co on Friday projected it will consume a record 22.6 million tonnes of liquefied natural gas (LNG) in the financial year to next March, 3.14 million tonnes more than a year earlier, to make up for lost nuclear power output.

The company, better known as Tepco, is still reeling from the crisis at its Fukushima Daiichi nuclear plant triggered by the March 11 earthquake and tsunami, and has just two of its 17 nuclear reactors operating as the world's worst atomic accident in 25 years has halted restarts of reactors shut for maintenance.

Tepco also projected oil consumption for the year at 8.44 million kilolitres, comprising 6.13 million kl of fuel oil and 2.31 million kl of crude oil, and thermal coal consumption of 3.18 million tonnes.

In the year ended last March, the company consumed 3.123 million kl of fuel oil, 1.63 million kl of crude oil, 19.462 million tonnes of LNG and 3.017 million tonnes of thermal coal.

In the six months ended in September, it consumed 2.42 million kl of fuel oil and crude oil, 11.34 million tonnes of LNG and 1.16 million tonnes of thermal coal.

Tepco procured 50 spot LNG vessels in April-September, totaling 3.02 million tonnes, a company spokesman said.

Earlier on Friday the government approved a business plan by Tepco allowing it to receive $11.5 billion in taxpayer funds to help pay compensation to those affected by the crisis.

President Toshio Nishizawa told a briefing on the utility's latest earnings and forecasts that it is not considering seeking a further injection of public funds.

The bailout money will help Tepco avert a possible funding shortfall at least for now, as compensation payments start in earnest nearly eight months after the March disaster.

Nishizawa said Tepco is not currently considering an increase in capital.

(Editing by Michael Watson and Edwina Gibbs)

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