Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.
Showing posts with label Kuwait. Show all posts
Showing posts with label Kuwait. Show all posts

Wednesday, December 22, 2010

Kuwait boosts stake in French nuclear giant Areva




Paris (AFP) Dec 11, 2010 Areva on Saturday approved a 900-million-euro (1.17 billion dollars) capital hike under which the Kuwait Investment Authority will hold nearly five percent stake in the French nuclear giant. The recapitalisation values the strategically important Areva at 11.5 billion euros, of which the Kuwaiti fund (KIA) will now control 4.8 percent.
"The group's supervisory board, meeting today under the chairmanship of Jean-Cyril Spinetta, examined and approved the launch of a reserved capital increase of 900 million euros, representing 7.2 percent of its share capital at the completion of the transaction," a statement said.
It said Kuwait would supply two-thirds of the capital hike and the French state the remaining third at 300 million euros.
Areva said its outlook for 2012 included a revenue of 12 billion euros and "a double-digit operating margin."
The French government holds 93 percent of Areva -- set up in 2001 -- and discussions about attracting other investors, including Qatar and Japan's Mitsubishi, have been underway for some time.
Areva's repeatedly delayed capital increase is aimed at funding its investment plans through to 2012 and had to be concluded by the end of the year.
Talks foundered with Qatar and Mitsubishi, a major player in nuclear power generation, meaning the French state had to contribute 300 million euros to the recapitalisation in order to make the end of year deadline.
Besides building nuclear power plants, Areva last year emerged as the world's largest miner of uranium, offering a complete range of services across the sector from fuel to energy production.
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Wednesday, December 15, 2010

Kuwait boosts stake in French nuclear giant Areva




http://www.nuclearpowerdaily.com/reports/Kuwait_boosts_stake_in_French_nuclear_giant_Areva_999.html Paris (AFP) Dec 11, 2010 Areva on Saturday approved a 900-million-euro (1.17 billion dollars) capital hike under which the Kuwait Investment Authority will hold nearly five percent stake in the French nuclear giant. The recapitalisation values the strategically important Areva at 11.5 billion euros, of which the Kuwaiti fund (KIA) will now control 4.8 percent.
"The group's supervisory board, meeting today under the chairmanship of Jean-Cyril Spinetta, examined and approved the launch of a reserved capital increase of 900 million euros, representing 7.2 percent of its share capital at the completion of the transaction," a statement said.
It said Kuwait would supply two-thirds of the capital hike and the French state the remaining third at 300 million euros.
Areva said its outlook for 2012 included a revenue of 12 billion euros and "a double-digit operating margin."
The French government holds 93 percent of Areva -- set up in 2001 -- and discussions about attracting other investors, including Qatar and Japan's Mitsubishi, have been underway for some time.
Areva's repeatedly delayed capital increase is aimed at funding its investment plans through to 2012 and had to be concluded by the end of the year.
Talks foundered with Qatar and Mitsubishi, a major player in nuclear power generation, meaning the French state had to contribute 300 million euros to the recapitalisation in order to make the end of year deadline.
Besides building nuclear power plants, Areva last year emerged as the world's largest miner of uranium, offering a complete range of services across the sector from fuel to energy production.
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Tuesday, December 14, 2010

Why are Arabs Racing to Go Nuclear? By Andres Cala


http://www.energytribune.com/articles.cfm/6083/Why-are-Arabs-Racing-to-Go-Nuclear

Why are Arabs racing to go nuclear?
A top US energy official said this week in Riyadh that Saudi Arabia expects to generate nuclear power within 10 years. Egypt will invite tenders for its first nuclear plant later this month. And Kuwait this week not only launched a feasibility study aimed at having nuclear power as early as 2020, it bought a 4.8 percent stake in French Areva, the world’s top reactor supplier.
That follows Jordan’s ongoing march to enrich uranium and to build a power plant and the United Arab Emirates’ years-old program aimed at completing its first nuclear power plant by 2017. Syria is believed to have been working on setting up its own nuclear plant before it was destroyed by Israelis.
Each country is in a different stage and not all will be successful, but few doubt that Arab countries will inevitably join the nuclear power frenzy sooner or later. It’s a question of economics, all countries say pointing to their insufficient power capacity and lack of options. But a driving force is unquestionably Iran’s nuclear program.
“There’s no doubt that there is rising interest in nuclear power in the Middle East,” said Charles K. Ebinger, senior fellow and director of the Energy Security Initiative in the Brookings Institute. “I think the reality is that all these countries will pursue this for energy security reasons. There’s an interest to address power demand and water desalination efforts.”
“But in light of Iranian situation we would be fooling ourselves if we deny there’s not a prospect of another motivation, which is to train their nationals to build weapons of their own if they feel threatened,” Ebinger said.
Most Arab countries have signed cooperation agreements with nuclear powers, including the US, France, Russia, China, South Korea, and Japan. Qatar is also mulling developing a nuclear program, as is Bahrain, and there is ongoing talk to share a regional program in the Gulf Cooperation Council, the six-country alliance in the Persian Gulf.
The need to rapidly boost power capacity is real and there are no alternative sources, other than oil, which is significantly more valuable, sold in international markets, as long as crude prices remain about $80 a barrel, Kuwait estimated. Only Qatar has enough indigenous gas resources.
The UAE and Oman already import gas supplies. Saudi Arabia and Kuwait are burning millions of barrels of oil a day to meet demand, and Kuwait already suffers from blackouts. Egypt, which generates three quarters of its power with gas, will deplete its fields in 20 years. Jordan already imports 95 percent of its gas.
The question is whether Arab countries will follow the UAE in signing the so-called 1-2-3 agreements with Washington to access US nuclear technology on the condition that they forego enrichment and reprocessing, the two technologies that could be diverted for military purposes, as many believe Iran is doing.
Under International Atomic Energy Agency treaties, countries have the right to develop uranium enrichment, as long as they sign on to non-proliferation treaties. Egypt, for example, has said it intends to pursue enrichment. Jordan, with huge uranium deposits, said it will do the same in an effort to eventually become a regional supplier.
The more concerning case is Saudi Arabia, the regional powerhouse that rivals Iran. Riyadh recently agreed to buy up to $60 billion worth of American advanced weaponry to counter its enemy’s might. The Wikileaks documents exposed Arab concern over Iran’s nuclear program and support for a military campaign to derail Tehran, contradicting official Arab policy.
Earlier this week U.S. Undersecretary of Commerce Francisco Sanchez said Saudis “seem to be very committed to having civil nuclear as part of what generates energy for them and to do it relatively quickly, like within the next 10 years.” Sanchez said he saw “wonderful opportunities” for American companies, which implies Riyadh would forego enrichment.
But while Saudi Arabia has said they won’t pursue enrichment, they “included enrichment in terms of reference” of a contract signed with the French company helping the country map its nuclear future, said Ebinger.
For the time being, it appears only the UAE and Egypt nuclear power programs are set in stone. Analysts say there is a lot of politics directed at Iran in the Arab march toward nuclear power. “I think there’s that message implied that they will not fall behind. They are saying they will not fall behind technologically and they will keep their weapons issue open,” Ebinger said.
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Thursday, October 28, 2010

Fifty Years of OPEC - East Asia Forum

A little noticed anniversary celebrated in September was that of 50 years of the existence of the Organisation of the Petroleum Exporting Countries (OPEC).  Despite the muted fanfare, its establishment led to fundamental changes in the global economic and political orders that remain critical today.
http://www.eastasiaforum.org/2010/10/27/fifty-years-of-opec/
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Tuesday, October 26, 2010

Saudis Interested in Russian Nuclear Power

Saudi Arabia will discuss a nuclear power deal with Russia, the official Saudi Press Agency said after a Cabinet meeting Monday.
The Cabinet authorized the head of the King Abdullah City for Atomic and Renewable Energy to sign a draft accord, it said. The countries plan to cooperate in the “peaceful uses of nuclear energy,” it said.
Saudi Arabia is one of several Gulf Arab countries seeking to develop nuclear energy to meet electricity demand that’s rising at about 8 percent a year. The United Arab Emirates awarded a $20 billion contract in December to a group of companies led by Korea Electric Power to build four nuclear plants, and Kuwait plans to build four reactors by 2022.
Saudi Arabia held talks with international companies to build its first nuclear and renewable energy city, said Khalid al-Sulaiman, vice president for renewable energy at the city, speaking in Jeddah on Oct. 4. The city has engaged 14 architectural and design houses.
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Thursday, October 14, 2010

World Citizen: Arabs States Building Arsenal for War With Iran

The magnitude of the weapons purchases is nothing short of astounding and the speed at which they are accelerating is breathtaking. Consider how fast the orders are growing: Gulf nations, including Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Oman and Kuwait, bought $37 billion worth of U.S. weapons in the last four years, with the majority of the purchases coming in just the last two years. And the deals already under negotiation for the next four years are expected to total $123 billion. Those numbers don't include arms purchases from countries other than the U.S.
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Friday, September 24, 2010

Lawmaker questions Kuwait's nuclear energy plans

A Kuwaiti lawmaker on Thursday questioned plans by the oil-rich Gulf emirate to build a number of nuclear reactors for power generation and demanded information about the expected costs. In a series of questions to Prime Minister Sheikh Nasser Mohammad al-Ahmad al-Sabah, the head of parliament's financial and economic affairs panel, Yussef al-Zalzalah, asked if sufficient studies have been made on the issue.
He also demanded to know the size of the budget allocated for the project and what has been spent so far.
In its drive to develop nuclear energy for peaceful use, particularly to generate electricity, the Gulf state set up Kuwait National Nuclear Energy Committee (KNENEC) in 2009 headed by the prime minister.
The emirate has signed memoranda of cooperation with France, the United States, Japan and Russia and, in April, upgraded its deal with France to the level of a full agreement.
KNNEC secretary general Ahmad Bishara said earlier this month that Kuwait will sign a fifth memorandum of cooperation with South Korea, which last year clinched a multi-billion-dollar deal with the neighbouring United Arab Emirates.
Zalzalah also inquired about press statements that Kuwait planned to build four 1,000-megawatt nuclear reactors by 2022, and if sufficient studies were made, and demanded documents related to the issue.
Kuwait's deals with the nuclear powers call for preparation, planning and nuclear power development which include training, human resources and infrastructure.
Bishara has said Kuwait expects electricity demand to double in 10 to 15 years from the current 11,000 megawatts, which would make the country face a serious power shortage.
The OPEC member currently burns 12 percent of its oil production to meet local electricity needs, and the figure will rise to 20 percent by 2030 if no alternative sources of energy are found, Bishara said.
Kuwait currently pumps around 2.3 million barrels of oil per day.
If the nuclear plans proceed as projected, Bishara estimated nuclear power would meet 15-20 percent of Kuwait's total electricity needs.
KNNEC is conducting a series of studies on the cost of power generation by nuclear energy, setting up legal frameworks, reviews on potential sites for nuclear reactors and human resources, Bishara said.
These studies are expected to be completed before the end of the year, and then the KNNEC will make the decision if Kuwait is to go nuclear, he said.

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Tuesday, September 21, 2010

The Real 'Merchants of Death' By Conn Hallinan,


The global arms trade is a $60 billion yearly business. The United States controls nearly 40 percent of this trade, defending its turf with the ferocity of a junkyard dog. The 10 biggest arms exporters are — in order — the United States, Russia, Germany, France, the United Kingdom, Spain, China, Israel, the Netherlands, and Italy. Sweden and Switzerland are close behind. This order shifts from year to year, but one thing never changes: The United States is always No. 1.
According to the Congressional Research Service, due to the current economic downturn, world arms sales dipped 8.5 percent in 2009. But “dipped” is a relative term. The price tag was still $57.5 billion, of which the U.S. share of 39 percent came to $22.6 billion. Russia was second at $10.4 billion, and France third with $7.4 billion in sales. Other countries split the rest.
Most of the trade — $45.1 billion — focuses on developing nations. Of the top seven arms purchasers in 2008, four of them — India, Malaysia, Pakistan, and Algeria — are countries that can ill afford to put money into weapons systems. Brazil, Venezuela, Egypt, and Vietnam were also among the bigger arms buyers in 2009, and Iraq is planning to purchase $13 billion in U.S. weaponry. All are countries struggling with poverty.
The United States overwhelmingly dominates arms sales to the developing world. In 2008 it cornered 68.4 percent of such sales, and 45.1 percent in 2009. It is currently negotiating a $60 billion arms sale to Saudi Arabia that will probably cost $120 billion when parts and maintenance is added in.
Arms sales many times parallel the foreign policy of the suppliers. U.S. arms sales to Egypt, Israel, Jordan, Saudi Arabia, Kuwait, the United Arab Emirates, Colombia, Japan, and South Korea arm allies against regional antagonists like Iran, Syria, China, and Venezuela. Arms sales to places like Yemen and Somalia support U.S. allies caught up in civil wars.

More at link
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Kuwait, Russia sign memorandum for nuclear generation Reuters (9/21)

State emblem of Kuwait, with inscription ž...Image via WikipediaKuwait, Russia sign memorandum for nuclear generation
Reuters (9/21)http://af.reuters.com/article/worldNews/idAFTRE68K0YE20100921
KUWAIT (Reuters) - Kuwait and Russia have signed a memorandum of cooperation for peaceful use of nuclear energy generation in the Gulf Arab state, Kuwait's state news agency KUNA reported, following similar deals with Japan and France.
"The memo ... stipulated training cadres, exploration for metals, establishing a network of nuclear reactors in Kuwait and building a relevant infrastructure," KUNA reported late on Monday, citing Ahmad Bishara, the secretary general of Kuwait's National Nuclear Energy Committee.
It said the arrangements were for a five-year period.
Gulf Arab states including Kuwait fear that Iran's nuclear energy programme could lead to the country becoming a nuclear weapons state and dominant power in the region. Kuwait has also sought assurances from Iran about the safety of its Russian-built Bushehr nuclear power reactor which began operation this year.

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Monday, September 13, 2010

Kuwait to announce launch of nuclear program this year Jerusalem Post

http://www.jpost.com/MiddleEast/Article.aspx?id=187906
Jerusalem Post
Kuwait will build four nuclear reactors over the next 12 years, a national nuclear energy official said.
Ahmad Bishara, secretary general of Kuwait’s National Nuclear Energy Committee (KNNEC), said that Kuwait is planning to build four 1,000 megawatt reactors by 2022. Speaking to press in Tokyo, Bishara said construction will begin as early as January.
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Friday, September 10, 2010

Kuwait plans to develop 4 nuclear reactors by 2022

Kuwait plans to develop 4 nuclear reactors by 2022
Kuwait intends to construct four nuclear reactors by 2022, joining the push among oil-rich countries seeking alternative energy sources. Kuwait is in talks with foreign entities on "how nuclear energy fits in the energy mix of Kuwait for the next 20 years," said Ahmad Bishara, secretary general of the country's National Nuclear Energy Committee. Bloomberg

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Sunday, August 22, 2010

Kuwait Wants Patriot Missile Batteries

A U.S. Patriot Missile launches from a truck m...Image via Wikipedia


August 12, 2010 :: Reuters :: News
The Pentagon has notified Congress that it plans to sell Patriot missile surface-to-air defense systems to Kuwait. The sale would be part of an effort by the U.S. to shore up air defenses in the region as the threat from Iran grows. In addition to Kuwait, missile batteries have been sold or promised to Bahrain, Qatar, and the UAE over the course of the last year. America's continued and accelerated support of Israeli missile defenses is well-known as well. These strategic arms sales can be seen as an effort to counter the possibility of single or salvo missile attacks from Iran, on regional neighbors and even on Europe. (Article, Link)
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