Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE
Print
Email
Discuss this article (0 Comments)UAE endorses France nuclear deal
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 10 March 2008
NUCLEAR POWER: The UAE cabinet has approved the agreement with France to develop atomic energy. (Getty Images)
The UAE cabinet on Sunday endorsed an agreement signed with France in January to cooperate on the development of nuclear energy for peaceful purposes.
The deal was inked during a visit to Abu Dhabi by French President Nicolas Sarkozy, making the UAE the third Arab state to sign such an agreement France.
The agreement “outlines a cooperation framework for the assessment and possible use of nuclear energy for peaceful ends”, according to state news agency Wam.
French companies Total, Suez and Areva have all expressed interest in joining forces to develop plans for two new-generation nuclear reactors in the UAE.
The possible start-up date for the new reactors is estimated to be around 2016.
The aim of the nuclear energy programme is to bring much needed power capacity on line in a sustainable and carbon-neutral way.
In addition to having one of the largest carbon-footprints in the world, the UAE is also under threat of suffering a severe power shortage in the near future.
Domestic demand for electricity is set to grow at an annual rate of 8%, according to a report published by the Middle East Economic Digest (Meed) last week.
An additional 60,000 megawatts of new power capacity, around 80% of currently installed capacity, will be required across the Gulf by 2015, according to the study.
READERS' COMMENTS
Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST ENERGY
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST ENERGY
LATEST MIDDLE EAST BUSINESS NEWS
- Transportation: RTA unveil new plans for driver safety in Dubai
- Politics & Economics: Emerging markets 'havens for stolen assets' - World Bank
- Energy: Pressure seen easing on struggling Saudi power grid
- Travel & Hospitality: Dubai hoteliers 'need to get real on room rates'
- Politics & Economics: Al Habtoor chief upbeat on Dubai future
SHARE PRICE CHECK
RELATED STORIES
Areva Transmission and Distribution (T&D)
| 11 stories- Market transformation
21 May '09 | Interviews - Age of efficiency
15 Feb '09 | Comment - Areva T&D: Team on tour
14 Feb '09 | Features
Suez Petroleum Company (GUPCO)
| 2 stories- Qatar power and water project awarded
26 Mar '08 | News
Total Energie
| 22 stories- Mubadala posts H1 profits of AED737.7m
7 Sep '09 | News - Dolphin Energy signs $4.1bn refinancing - bankers
27 Jul '09 | News - Saudi, Conoco relaunch Yanbu refinery bidding
30 Jun '09 | News
Mobile
