The region is not fully equipped with the right knowledge and expertise to undertake full operation of nuclear plants - signified by delays in commissioning the Barakah nuclear plant in the UAE, said a new report from Arab Petroleum Investments Corporation (Apicorp).
Dependence on Russia to develop and, in certain instances to support the financing of nuclear projects in Mena countries, leaves the region exposed to a single supplier. Huge capital costs are leading the likes of Jordan and Saudi Arabia to consider small-scale alternatives that are more costly to build per kilowatt of electricity (KWe).
Meanwhile renewed sanctions on Iran will overall slow the momentum on nuclear energy deployment within Mena.
For countries in the GCC, nuclear power can free up more oil and gas for exports, while net-importing countries like Egypt and Jordan will be able to diversify their energy sources, enhance energy security and reduce their expensive import bills. Nuclear plants are expensive to build due to high upfront capital costs, but are cheaper to operate over their lifetime because fuel costs are lower and there is no requirement for carbon capture.
At present, 2.4GW of nuclear power facilities in Mena are complete-of which only 1GW is operational, 5.4GW are under construction and a further 8GW are planned by 2030.
By 2030, Mena is expected to have added 15.8GW of nuclear capacity. Whilst this would represent less than 5 per cent of today’s total capacity, it would be a quantum leap from the 1GW currently generated by Iran and more generally would represent a step change in the region’s energy mix. – TradeArabia News Service
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
