First UAE Nuclear Reactor by 2017

First UAE Nuclear Reactor by 2017

The first of four reactors to be built at the Barakah nuclear plant is 61 per cent complete, and on course to be completed by 2017, according to Reuters.
The project, which is valued at $20bn and funded by the Abu Dhabi government, is expected to provide up to 24 per cent of the UAE’s overall energy by 2020, says Mohamed Al Hammadi, the CEO of Emirates Nuclear Energy Corp (ENEC).
In December 2009, Korea Electric Power Corp (KEPCO) was awarded the contract to build each of the four 1,400MW nuclear reactors.
Soaring energy costs are behind the UAE’s efforts to diversify its energy mix, according to Hammadi. As such, the country will be the first among Gulf states to build a nuclear power plant that will generate power.
The UAE, in 2009, had signed an agreement with the US in which it “Forfeited its right to enrich uranium domestically,” according to Reuters.
The second reactor to be built at Barakah is nearing 50 per cent completion, while work has already began on the third and fourth blocks, which gained regulatory approval in October 2014, the report concludes.


Short URL : http://goo.gl/7SoIQI

You can also read ...

Turkey Cuts Iran Oil Imports
Turkey’s biggest oil importer Tupras has cut back purchases of...
US Oil Industry Lobbies Against Russia Sanctions
The US oil and gas industry is lobbying against tighter...
Lack of Wind Jeopardizes UK Turbine Investments
It has been a stifling summer of disappointment for investors...
Tabriz Refinery Signs Tail Gas Agreement
Tabriz Oil Refining Company signed a $12 million agreement on...
Kuwaiti Crude Heading for Japan
Kuwait's newly launched Super Light crude oil is increasingly...
MAPNA Ready to Increase Installed Power Capacity
Iran's top engineering and energy enterprise MAPNA Group is...
ICOFC Intends to Boost Gas Condensate Output
The state-owned Iranian Central Oil Fields Company plans to...
EOR Operations Underway at North Yaran Oilfield
Operations are underway to increase oil production at North...