South Korea’s State nuclear company expects to win $billions from marketing nuclear operations to United Arab Emirates
S.Korea signs on to venture to operate UAE’s 1st nuclear power plant http://af.reuters.com/article/energyOilNews/idAFL3N1C32ZG
SEOUL Oct 20 (Reuters) – State-run utility Korea Electric Power Corp (KEPCO) agreed to invest $900 million in a company operating the first nuclear power plant in the United Arab Emirates, South Korea’s energy ministry said on Thursday.
KEPCO expects the deal to boost its revenue by nearly $50 billion over the next 60 years, according to a statement from the ministry.
KEPCO and Emirates Nuclear Energy Corp (ENEC) signed the deal to co-invest in the company managing and operating the UAE’s Barakah nuclear power plant for the next six decades, the ministry statement said.
In 2009, a KEPCO-led consortium won a contract to build the four 1,400 megawatt nuclear reactors that are being constructed at the Barakah plant to meet the UAE’s surging demand for electricity.
South Korea, the world’s fifth-biggest user of nuclear power, constructs and operates its reactors through KEPCO. (Reporting By Jane Chung; Editing by Tom Hogue)
India-Russia ties boosted by defence, energy deals, Straits Times, OCT 16, 2016, Modi and Putin revive Cold War bond with lucrative agreements between two nations BENAULIM (India) • Indian Prime Minister Narendra Modi and Russian President Vladimir Putin signed a raft of lucrative defence and energy pacts yesterday following talks aimed at reinvigorating ties between the former Cold War allies.
‘One belt, one road’ policy for financing and support for infrastructure projects is helping nuclear plant constructors expand into overseas markets………The policy was first proposed in 2013 to promote infrastructure construction deals overseas along with goods and services trade along the ancient Silk Road from China to Europe and along the ancient maritime trade route linking China to southeast Asia, the Middle East and Africa. The state is offering financing at a time when China’s economy grew at the slowest rate in 25 years and its industry faces severe overcapacity problems.
Beijing has encouraged local firms to become involved in infrastructure projects in southeast Asia, Europe and Africa. Chinese nuclear reactor builders are a growing force in the global nuclear industry.
“The export of nuclear reactors will become one of the key pillars for executing China’s one belt, one road strategy,” Zheshang Securities analyst Zheng Dandan said………
Three Chinese state-backed firms are actively pursuing opportunities to export their reactor construction expertise, especially in developing nations that do not have their own construction capabilities.
Beijing-based projects developer China National Nuclear Corp (CNNC) chairman Sun Qin was quoted by state media China News Service last month as saying that 80 per cent of the up to 300 new reactors projected to be built by 2030 globally could be in ‘one belt, one road’ nations.
CNNC wants to build 30 reactors in such nations, and will use Argentina as a base to develop the South American market, Algeria for reaching out to the greater African market and Pakistan where it is building a project to develop the Asian market, Sun was reported as saying.
State Power Investment, formed via the merger of one of the nation’s “big five” power generators China Power Investment and general contractor State Nuclear Power Technology last year, is also pursuing overseas projects.
It has partnered with the US nuclear technology powerhouse Westinghouse to negotiate a potential deal to build a nuclear power project in Turkey. It has also pursued opportunities in South Africa.
Shenzhen-based projects developer China General Nuclear Power is working towards winning potential projects in Britain, Kenya and southeast Asia. It won one bid to build a plant in Romania.
The mainland leadership has made the globalisation of Chinese firms a key part of its economic reform plans, looking to establish the nation as a major provider of value-added and high-end goods and services. In a series of articles this week, the South China Morning Post examines the key industries targeting overseas expansion, beginning with the nuclear power industry.
Russian nuclear firm Rosatom eyes Chilean lithium | SANTIAGO 2 Oct 16 Russian state nuclear power plant giant Rosatom sent lobbyists to meet with the Chilean government and discuss “collaboration in possible lithium projects,” a government website revealed at the weekend.
Four representatives of the company met with Mining Deputy Minister Igancio Moreno in September, according to information published on the government’s lobbying transparent website.
Rosatom has signed billions of dollars worth of overseas contracts and is seen as a tool for Russia to wield political influence abroad.
This year, it signed a contract to build a nuclear research center in Chile’s neighbor Bolivia. It also has interests in several other Latin American countries.
Chile itself has no nuclear power plants and is not expected to build any, as it is one of the world’s most seismically active countries and is regularly shaken by strong earthquakes.
But Chile does have one of the world’s most plentiful supplies of lithium, a mineral used in rechargeable batteries and electronics that has seen rocketing interest and a sharp price rise in recent months on hopes of an electric vehicle boom.
Lithium also has applications for the nuclear industry. As a consequence, the Chilean government considers lithium a “strategic mineral,” leasing out rights and limiting its production.
Most lithium extraction projects involve partnership with the government and state copper miner Codelco [COBRE.UL] is expected to decide on a partner to develop its own lithium assets in the first quarter of next year.
Japan, India to sign nuclear cooperation deal in November – report http://www.firstpost.com/fwire/japan-india-to-sign-nuclear-cooperation-deal-in-november-report-reuters-3030874.html First Post 2 Oct 16 Reuters TOKYO Japan and India are likely to sign a civil nuclear cooperation pact during a visit to Japan by Indian Prime Minister Narendra Modi in mid-November, the Mainichi newspaper reported on Saturday.The governments of Asia’s second- and third-largest economies are leaning toward holding a summit meeting between Modi and his Japanese counterpart Shinzo Abe, the report said, citing unidentified diplomatic sources from both nations.The two leaders last December reached a basic agreement for cooperation in the peaceful use of nuclear energy, but they stopped short of signing the agreement, citing outstanding technical and legal differences.Japan, the only country to have suffered a nuclear attack, has been demanding additional non-proliferation guarantees from India, which has a nuclear weapons programme, before exporting nuclear reactors.
India and Japan have been negotiating the nuclear energy deal since Japan’s ally, the United States, opened the way for nuclear commerce with India, which has shunned the global Non-Proliferation Treaty (NPT).
The two countries have reached a basic agreement during the working level negotiations that Japan would halt cooperation immediately if India conducted a nuclear test, the report added.A final deal with Japan would benefit U.S. firms. India has already given land for nuclear plants to GE-Hitachi – which is an alliance between the U.S. and Japanese firms – and to Toshiba’s Westinghouse Electric Company.
(Reporting by Osamu Tsukimori; Editing by Christian Schmollinger)
Abe, Modi look to ink civil nuclear pact at November meeting, Japan Times, KYODO, 30 Sept 16 A meeting between Prime Minister Shinzo Abe and his Indian counterpart Narendra Modi is set to be held in Tokyo in mid-November, with a civil nuclear cooperation pact likely to be signed, a source said Friday.
The pact would pave the way for Japan to export nuclear power plant technology to the fast-growing Asian economy. It would be Japan’s first signing of a civil nuclear cooperation pact with a country which has not joined the Nuclear Non-Proliferation Treaty…….
Earlier, other diplomatic sources said that under a provision in the pact, Japan will permit Indian power producers to reprocess spent fuel at designated facilities on the condition the country accepts comprehensive inspections by the International Atomic Energy Agency…….
Following the signing of the treaty, the Japanese government will seek swift approval from the Diet in a bid to promote Japanese companies’ participation in construction of such power plants in India……http://www.japantimes.co.jp/news/2016/09/30/national/japan-india-look-ink-civil-nuclear-pact-november-meeting/#.V-7jmIh97Gg
Making nuclear power plants safe after they shut down RBTH, September 24, 2016 ANDREI RETINGER, The problems of dealing with spent nuclear fuel, radioactive waste and the decommissioning of nuclear facilities (experts call it “back end”) did not immediately become apparent to the countries developing their nuclear industries. But now the world market for back end services is booming and its value is estimated to total about $347 billion until 2030.
A number of nuclear facilities in the UK are scheduled for decommissioning, and all the 17 nuclear power plants that are still operating in Germany are due to close down by 2020. Japan must rehabilitate the areas after the accident at Fukushima, and the United States and Russia need to solve the problems of radioactive waste storage and reprocessing. Not all countries have the ability to solve these problems, but Russian technologies and facilities can come to their aid…..
in 2008, Russia was faced with a catastrophic situation because of the accumulation of radioactive waste and spent fuel remaining from the time of the creation of nuclear weapons and the Cold War. Storage sites were almost full and had not been provided with reliable insulation, creating a threat to people and the environment.
In this situation, Russia had no choice but to tackle the problem urgently. In 2007, it adopted a state program on nuclear and radiation safety, which was developed by the Rosatom State Atomic Energy Corporation. Then it approved a law on radioactive waste management, taking into account the latest standards and requirements………https://rbth.com/science_and_tech/2016/09/24/making-nuclear-power-plants-safe-after-they-shut-down_632711
SNC-Lavalin to build Candu nuclear reactor for China, BERTRAND MAROTTE, MONTREAL — The Globe and Mail, Sep. 22, 2016 SNC-Lavalin Group Inc. is closing in on its goal of becoming a major player in China’s thriving nuclear-energy industry with an agreement for the development in that country of the next generation of Candu reactors.
The Montreal-based global engineering giant said on Thursday it has an agreement in principle for a joint venture with state-owned atomic-power and weapons company China National Nuclear Corp. and manufacturing conglomerate Shanghai Electric Group Co. Ltd. to design, market and build the Advanced Fuel Candu Reactor (AFCR).
SNC signed an initial memorandum of understanding with CNNC to pursue power generation, mining and nuclear-related environmental projects around the world more than two years ago.
SNC bought the Candu unit from Ottawa for $15-million in 2011. But Candu has had a poor track record of selling its technology abroad and questions have also been raised over its cost-effectiveness.
China, however, appears to have endorsed the concept of building reactors that run on recycled uranium…….
The proposed joint venture follows the signing of a framework agreement in 2014 and is subject to government and regulatory approvals, SNC said. http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/snc-lavalin-strikes-deal-to-build-nuclear-reactors-in-china/article32000350/
India Could Get Billions from the U.S. To Build a Nuclear Reactor, Fortune, by Reuters SEPTEMBER 22, 2016 If a lending freeze doesn’t get in the way.
India is negotiating with U.S. Export-Import Bank for an $8-9 billion loan to finance six Westinghouse Electric nuclear reactors, two sources familiar with the talks said, although a lending freeze at the trade agency threatens progress.
The mega-project, the result of warming U.S.-India ties in recent years, could open up billions of dollars of further investment in India’s nuclear power sector, ……..
The Westinghouse deal, however, is contingent on financing and Ex-Im cannot approve loans of more than $10 million, owing to a row in the U.S. Congress over board appointments stemming from a campaign by conservatives to close the government lender……..
“Financing of the reactors is the critical piece; everything is down to this,” said one source involved in protracted negotiations to build the reactors in the south-eastern Indian state of Andhra Pradesh.
The source, requesting anonymity because of the sensitivity of the talks, said Indian negotiators and Ex-Im officials were trying to set the terms of the financial package in the hope that the freeze on the bank, affecting potential sales of several major U.S. companies, would lift soon.
Westinghouse is owned by Japan’s Toshiba Corp but is based in the United States……..
In addition to U.S. Ex-Im, India is also seeking funding from Japan and South Korea for the reactors to be built in Kovvada, two sources familiar with the talks said……..
While negotiators are unlikely to nail down a contract under Obama, who steps down in January, their challenge will be to come up with concessional financing terms that will make Westinghouse’s AP1000 reactors affordable.
Westinghouse did not respond to a request for comment, while a U.S. Ex-Im Bank spokeswoman declined to comment. An NPCIL official said the firm had nothing to say at this stage…….
ndia is also in talks with Russia to build four more reactors on top of the two already completed in Kudankulam in southern Tamil Nadu state, as well as with France’s EDF for the construction of six reactors of 1650 MW each in western India, which would be the world’s biggest nuclear power complex.
But talks with Westinghouse are more advanced than those with the French, with the two sides aiming to sign an early works agreement next month, sources familiar with their progress said.
A delegation from the U.S.-based firm visited New Delhi earlier this month to finalize the pact that would include the timeline and up-front costs such as land acquisition and site preparation, said a source familiar with the matter. http://fortune.com/2016/09/22/india-nuclear-power/
Finland’s Onkalo nuclear waste disposal facility want to export the technology to South Australia, The Advertiser Daniel Wills, Helsinki, Finland, The Advertiser September 21, 2016 OPERATORS of the world’s most advanced nuclear disposal facility want to export the technology to South Australia and form an alliance to help the state develop its own commercial facility to take waste from around the world.
At a briefing with Premier Jay Weatherill at Finland’s Onkalo nuclear waste disposal facility, Posiva Solutions Oy managing director Mika Pohjonen said his company would be willing to licence intellectual property and engineering solutions to SA if it were to proceed with expanding the local nuclear industry.
Posiva is a joint venture owned by two of Finland’s biggest energy companies — Teollisuuden Voima Oyj and Fortum Power and Heat. It is set to become the first organisation in the world to bury a canister of spent nuclear fuel when they begin inserting them into the bedrock from 2020. Mr Pohjonen said SA could hope to move from site selection to burying canisters within about 15 years, less than half the time taken by Finland, because the Scandinavians had already undertaken the slow work of proving the technology………
The Onkalo disposal site is about 10 times smaller than that conceived by SA’s Nuclear Fuel Cycle Royal Commission.……
Mr Weatherill will by the end of the year declare a formal State Government position to Parliament on expansion of the industry………
“The next major step is a threshold question about whether we maintain our prohibition against a facility for spent fuel or whether we take a step to explore it further.”- Mr Weatherill said ….
China’s nuclear marketing plan gets a big boost from Theresa May’s decision to go ahead on Hinkley project
There’s a whole lot more in British Prime Minister Theresa May’s decision to allow a Chinese company to invest in the Hinkley Point C nuclear plant than mere business.
Chinese investment is limited to investing funds in the $24 billion project, which will use two French reactors supplied by Electricity de France. But the project could clear the way for Chinese involvement in a more crucial project at Bradwell, east England, which would allow China to export its nuclear technology to the Western world, analysts say.
China General Nuclear Corporation, the investor in Hinkley Point, already has signed a pre-feasibility agreement for the Bradwell project……..
Only a few developing countries like Pakistan are using Chinese reactors. These countries are not known to have the kind of strict regulatory control seen in the West.
The Bradwell B project could be a game changer. Getting regulatory approval in Britain for its reactors is crucial for China because it can open the doors for Chinese nuclear exports to the West……..
But there’s many a slip between May’s lip and China’s cup of hope. Britain already is in the midst of fierce debate with critics voicing concern about security issues. Critics question a provision in the contract that provides for a fixed electricity rate for 35 years at a time when energy prices are falling, and are expected to be much lower in the future……..
For Beijing, British approval for the Hinkley Point project is a major image booster, analysts say. Chinese business is seen in the West as an acquirer of property and trader of low-tech, unbranded goods, they point out…….http://www.voanews.com/a/british-project-china-nuclear-exports-west/3517485.html
China to build nuclear reactor in Essex after Hinkley deal approved, Telegraph UK, Emily Gosden, energy editor 15 SEPTEMBER 2016
China is to begin developing a new nuclear power station in Essex after the Government heralded a new wave of UK reactors by approving the £18bn Hinkley Point plant in Somerset.
Chinese state nuclear firm CGN will fund one-third of Hinkley, which is led by French state energy giant EDF, in return for the chance to build its own design of reactor at Bradwell with EDF’s support………
The only change to the Hinkley deal is that the Government has taken powers to veto EDF selling its controlling stake in the project, leading critics to call Mrs May’s review “a lot of hot air”……..Both CGN and EDF made clear they did not regard the new safeguards as any obstacle to proceeding with the plans for a Chinese reactor at Bradwell.
Although ministers made no mention of Bradwell in their announcement, sources told the Telegraph that CGN had privately received Government assurance its plans, which were endorsed by the previous administration, were still welcome.
CGN said it was “delighted” by the Hinkley decision which would allow it to “move forward and deliver” Bradwell.
It is understood the firm hopes to begin the process of seeking UK safety approval for its Hualong One reactor design in the autumn. EDF has previously said such a plant could begin construction as early as 2022, subject to approval by UK regulators.
Mrs May’s joint chief of staff, Nick Timothy, has previously raised concerns that China could use its role in UK nuclear plants to “build weaknesses into computer systems which will allow them to shut down Britain’s energy production at will”………http://www.telegraph.co.uk/business/2016/09/15/china-to-build-nuclear-reactor-in-essex-after-hinkley-deal-appro/
The deal, if it goes ahead, would add momentum to Moorside at a time when the rival Hinkley Point nuclear power project in Somerset has been thrown into doubt by concerns about its high cost and the role of Chinese investors in the scheme.
Theresa May, prime minister, is expected to decide this month whether to go ahead with Hinkley, led by EDF of France with Chinese backing, after ordering a review of the £18bn project.
NuGen sees the uncertainty as a chance to leapfrog Hinkley in the race to build the first new nuclear reactor in the UK for more than two decades. However, it is still years behind EDF in securing financing and regulatory approval for its project.
For Kepco, an investment in Moorside would be a chance to gain a foothold in the UK as it builds its presence in the global nuclear industry.
The Cumbrian plant — designed to provide power for 6m homes — would be supplied with reactors by Westinghouse, the US subsidiary of Toshiba. But Kepco sees the UK as a potential future market for its own technology.
South Korea has set a goal to become the world’s third-largest exporter of nuclear reactors by 2030 and has already won a $20bn contract in Abu Dhabi. Tom Samson, chief executive of NuGen, is former chief operating officer of the Abu Dhabi company, Emirates Nuclear Energy Corporation, which struck that deal.
Kepco is not without controversy, having been rocked by a domestic safety scandal three years ago. The country’s atomic watchdog said safety certificates for thousands of components procured by Korean reactors over the previous nine years had been forged. An ally of Kepco said the scandal was behind it and the group was now seen as “a first division player” in nuclear power.
The group, 51 per cent owned by the South Korean government, first entered talks with NuGen three years ago, but no deal was reached. Four people with knowledge of the situation said talks had since resumed and made progress over a potential equity stake in NuGen as well as a possible role in construction.
NuGen declined to comment on Kepco but said it had a “universe of options for financing” and was talking to a variety of potential investors and contractors. Kepco could not be immediately reached for comment.
The UK government has put nuclear power at the heart of its energy policy, with a target for 14GW of generating capacity from new reactors by 2035. However, its refusal to inject public money has left ministers dependent on foreign investors to finance the programme.
As well as Hinkley and Moorside, Hitachi of Japan also has plans for reactors at Wylfa in Anglesey and Oldbury-on-Severn in Gloucestershire. EDF and its Chinese state-backed partner CGN are planning further reactors at Sizewell in Suffolk and Bradwell in Essex.
The latter project has been the focus of close scrutiny from Downing Street since Mrs May became prime minister because Bradwell would involve Chinese rather than French reactor technology.
New nuclear power stations are seen as crucial to UK energy security in the coming decades as dirty coal-fired power stations and old nuclear reactors are phased out. But critics say nuclear is too expensive and believe a mix of renewables and natural gas could keep the lights on at a lower cost while still reducing carbon emissions.
India, Canada discuss civil-nuclear cooperation The two leaders discussed a wide range of issues of mutual interest, including civil-nuclear cooperation between the two countries, an official release issued said today. Indian Express By: PTI | New Delhi September 8, 2016 India and Canada have discussed a wide range of issues of mutual interest, including the civil-nuclear cooperation between the two countries. The discussion was held during a meeting between Union Minister Jitendra Singh and visiting Canada Minister for Natural Resources, James Gordon Carr, here on Wednesday.
The two leaders discussed a wide range of issues of mutual interest, including civil-nuclear cooperation between the two countries, an official release issued said today. As a country with large energy requirements, India looks forward to promoting nuclear energy production at a significant scale and the two nations can jointly work to achieve this, said Singh, Minister of State in Prime Minister’s Office.
He referred to a common technological base of Pressurised Heavy Water Reactor (PHWR) in which India and Canada are global leaders and it is an area offering opportunity of potential bilateral cooperation between the two countries……….
Singh referred to the visit of Prime Minister Narendra Modi to Canada in April 2015 during which a long term uranium procurement contract was signed by Department of Atomic Energy, Government of India with the Canadian Uranium producer CAMECO…….http://indianexpress.com/article/india/india-news-india/india-canada-discuss-civil-nuclear-cooperation-3020552/
Saudis Buy 16 Nuclear Plants From The Russians, Terrorists Rejoice : http://dailycaller.com/2016/09/06/saudis-buy-16-nuclear-plants-from-the-russians-terrorists-rejoice/#ixzz4JViTS5aX ANDREW FOLLETT Energy and Environmental Reporter Saudi Arabia will buy 16 nuclear power plants from Russia for $100 billion despite terrorism concerns, according to a Monday announcement from a government-controlled nuclear power company.
Saudi Arabia has a long history of terrorist attacks within its borders, and the country itself has been accused of directly funding Islamic terrorism. The planned reactors would be incredibly vulnerable to terrorist attacks.
Saudi Arabia’s new reactors would not produce the weapons-grade plutonium necessary to make a nuclear weapon, but materials from them could be used to create dirty bombs. A dirty bomb combines radioactive material with conventional explosives that could contaminate the local area with high radiation levels for long periods of time and cause mass panic, though it would be millions of times weaker than an actual nuclear device. The Islamic State wants to steal this kind of radioactive material for a dirty bomb.
“There are prospects for cooperation in the field of nuclear energy,” Yury Ushakov, aide to Russian President Vladimir Putin, told journalists. “Our company, which has the most advanced technologies, is ready to join the project on construction of 16 nuclear power reactors in the kingdom of Saudi Arabia. The project is provided until 2030, its cost is $100 billion,”
Russia and Saudi Arabia signed an agreement last year to work together on “peaceful” nuclear energy projects. The stated purpose of these reactors is to generate electricity, power desalination plants and reduce domestic oil consumption so Saudi Arabia can sell the oil abroad. The reactors will be built by the Russian government controlled Rosatom State Nuclear Energy Cooperation.
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