PennEnergyResearch: E&C Issues: Nuclear Power Growth

	E&C Issues: Nuclear Power Growth Burgeoning Power Demand and Soaring Fossil Fuel Prices to Stimulate Nuclear Power Growth in Middle East & Africa despite Fukushima Nuclear Disaster Summary In the Middle East & Africa (ME&A), nuclear power is considered a promising future source of energy. Countries that already have nuclear power are looking to expand their nuclear fleet and the countries with no nuclear reactors are considering nuclear new-build plans. Up until the last decade, the ME&A region was heavily dependent on its oil and gas reserves to meet its energy needs. But owing to the fast-pace economic growth in the region, oil and gas cannot sustain the growing power demand load. The opportunity to export oil profitably due to price hikes has also impacted the region's current power situation and made the development of nuclear power more attractive. As per 2008 reports from International Atomic Energy Agency (IAEA), 17 of the 51 countries around the globe that expressed their intentions to develop nuclear power were from the Middle East and 13 were from Africa. Current activities in the region are pointing to firm plans in the region to develop this power source. Scope The report focuses on Middle East & Africa's Nuclear growth Key developments in nuclear power in Kenya, Saudi Arabia, Jordan, South Africa, Ghana and the UAE Importance of nuclear energy with respect to greenhouse gas emissions China's Nuclear Power Program to Grow Steadily Despite Anti Nuclear Concerns after Fukushima Disaster Summary Despite the slowing effect of the Fukushima disaster on the approval processes for nuclear power plants around the world, China is plowing ahead with its current nuclear power program plans. China's motivation for increasing the share of this clean form of energy in its power mix stems for the country's will to combat the effects of rising coal prices on the power industry, address the problem of greenhouse gas emissions, and meeting its growing energy demands. But while the country is continuing with the plans, the government has taken lessons from the disaster and has adapted their regulatory approach accordingly. Scope The report focuses on China's Nuclear growth Key drivers for nuclear growth in China Importance of nuclear energy with respect to greenhouse gas emissions Strong Nuclear Power Demand to Drive the Uranium Market Summary The growing number of nuclear installations is generating huge demand for uranium. Despite anti nuclear concerns, many countries are focusing on increasing the nuclear share in their energy mix due to increasing greenhouse gas emissions, growing power demand, and the volatility of fossil fuel prices. This growth will generate huge demand for uranium and cause a supply deficit, thus triggering an increase in spot prices for uranium and ultimately the development of new mines among uranium producers. Scope Identifies the key drivers for uranium market Focuses on global nuclear power development Identifies key countries with most uranium demand