Japan's government is making long-term plans for replacing up to a dozen nuclear reactors by 2050, to secure its electricity supply, with two to five of these to be rebuilt by the 2040s, the country's economy ministry said today.This is the latest step in a policy reversal for Tokyo, which, following the 2011 Fukushima disaster, closed all of its nuclear reactors and tried to switch to other forms of electricity generation. The Strait of Hormuz crisis, as well as LNG price volatility, has recently prompted a reconsideration of the nuclear-divorce policy, with growing pro-nuclear sentiment in Japanese political circles.The latest idea was laid out in a proposal by the ministry, seeing as many as 11 to 14 nuclear reactors in operation by 2050, Reuters reported, citing the institution. If all 14 are built, this would add 16 GW to Japan's generation capacity. The publication noted that currently, Japan generates between 60% and 70% of its electricity from hydrocarbons, including coal, oil, and natural gas, which it imports due to lack of its own resources.Kyodo News, meanwhile, reports that the Takae Sanaichi government plans to have 20% of the country's electricity come from nuclear power in fiscal year 2040 to meet electricity demand. Since repairing existing reactors would not be enough to secure the energy forecast to be in demand at the time, new capacity would need to be built. The news outlet notes, however, that nuclear power plant construction has become more expensive lately, which casts doubts about whether all the planned reactors would materialize.Industry estimates about electricity demand, per Kyodo News, show a potential shortfall in supply of some 5.5 million kW in 2040. This amount is equivalent to the output from five nuclear reactors, the publication wrote. At the moment, 24 nuclear reactors in Japan are undergoing decommissioning.By Irina Slav for Oilprice.comMore Top Reads From Oilprice.comSouth Korea Boosts Jet Fuel Exports to Nine-Month HighIran's Oil Exports Collapse to Six-Year Low as Blockade TightensOman Oil Terminal Attack Rattles the Market's Last Calm Corner