Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Uranium Stocks
Uranium Price
Our RSS Feed

Uranium Updates

Enter your email address:

Follow Us on Twitter
« John McIlveen: Alt Energy Is Still at Value Levels | Main | Extract Resources Limited in Talks with Rio Tinto »
Monday
Feb212011

Turkey planning for 3 nuclear power plants by 2023

Sunday’s Zaman.JPG

Energy and Natural Resources Minister Taner Yıldız on Friday said Turkey will have three functioning nuclear power plants by 2023.
 
Yıldız was speaking at a press conference convened to discuss developments concerning the Akkuyu nuclear power plant, which will be Turkey’s first nuclear power plant once completed. The energy minister underlined that the country will not be satisfied with one nuclear power plant but that it aims to have three functioning nuclear power plants by 2023.

“We are set on constructing these nuclear power plants. Nuclear energy is a must if we want to diversify our supply of energy,” he added.

Parliament approved a bill on an agreement between Russia and Turkey for the construction of Turkey’s first nuclear power plant in the coastal town of Akkuyu, Mersin province, in July 2010. According to the agreement, signed during Russian President Dmitry Medvedev’s official visit to Turkey in May 2010, Russia will build and operate the Akkuyu nuclear power plant. A consortium led by state-controlled Russian builder AtomStroyExport will construct the plant in Akkuyu, undertaking the entire cost of construction, estimated at around $20 billion.

The firm will be able to transfer up to 49 percent of its shares to another firm. The Russian State Atomic Energy Corporation (Rosatom) and the Ministry of Energy and Natural Resources will represent the two sides in the agreement. Furthermore, the energy minister underlined that Turkey imports most of its primary energy needs, adding that the country’s foreign energy dependence is around 70-72 percent of its total energy consumption. When considering Turkey’s economic growth of 7-8 percent, Yıldız said energy demand is expected to rise annually by 4,000-5,000 megawatts (MW). He added that several governments attempted four times over 50 years to construct a nuclear plant but none managed to do so.

While Turkey is getting closer to having its first nuclear power plant, public opinion seems uneasy concerning the level of technology the Russians have to offer Turkey and the overall safety conditions of the nuclear reactor they are to build as memories of the Chernobyl disaster are still fresh in people’s minds. When asked what kind of technology will be used at the nuclear power plant, Yıldız stressed that they will not choose the cheapest available.

“We are not talking about a project that will be ready in a couple of years. Taking into account the licensing of the nuclear power plant, this project will last 75-80 years. The technology [nuclear energy] used in nuclear power plants 40 years ago is already out of date. We will use the latest technology,” he noted.

In a previous statement to Today’s Zaman, Sinan Ülgen, a visiting scholar at Carnegie Europe in Brussels and chairman of the Center for Economics and Foreign Policy Studies (EDAM) in İstanbul, said Russian technology is considered sufficiently safe. He noted the reactor offered to Turkey is from a totally different generation than the infamous Chernobyl design.

“The only caveat in this respect is that there is as of yet no operational track record for the proposed reactor in Akkuyu. By the time the reactor is built, however, a similar reactor will have already been completed and started operation in China,”

Ülgen added.

Its good to see that Turkey is pushing ahead with its nuclear power program in an attempt to satisfy their future needs.



Over in the options pit another profitable trade was closed on Friday so we now have 65 winners out of 67 options trades, or a 97.00% success rate If you have any questions regarding these trades please address them through their site where they will be handled quickly and I hope efficiently.

sk chart 19 Feb 2011.JPG

The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today, before we decide to cap membership.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.


To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.


PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (4)

Anyone account for the pounding of the Uranium/Rare metal sector these last few days?

February 22, 2011 | Unregistered CommenterJoeBronx

Unrest in the Middle East with potentially higher oil prices, might bring our economies down into recession levels again, or even worse. The dreaded double dip recession scenario. People just stop spending except for food which is getting out of reach to many more poor unfortunates due to inflation and speculators.

February 22, 2011 | Unregistered Commenterdaveydog

I believe so stimuli what they are saying about chinas nuclear future in this article. They are going to secure there position on uranium supply before they build the hundreds of plants they need.

Does Uranium reproduce or is there a finite amount of it in the world? Does the earth generate more and can it be replicated artificially?

February 22, 2011 | Unregistered CommenterValrie

JoeBronx,

We understand the following:

The weekly uranium prices were published last night by Ux Consulting, spot uranium price moved down to $68.75/lb. (-3.50) and long-term uranium prices remained unchanged at $73.00/lb

February 23, 2011 | Unregistered CommenterUranium Stocks

PostPost a New Comment

Enter your information below to add a new comment.
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>