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Big Oil will build nuke plants all over the Middle East

 
Anonymous Coward
User ID: 467853
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07/14/2008 08:33 AM
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Big Oil will build nuke plants all over the Middle East
Unlike Israel's nuke plant in Dimona, which only creates plutonium for building nuclear weapons, these plants will generate electricity to power the local economy, and free up oil and gas for sale on the world market.


Oil giants plan to go nuclear in Middle East

By Carola Hoyos in London
Published: July 9 2008 03:00 | Last updated: July 9 2008 03:00

Total and Eni, two of Europe's biggest oil and gas companies, each plan to bring nuclear power to countries in the Middle East in what would be a controversial shift in an industry that is finding itself squeezed out of many of the world's biggest oil and gas fields.

Total intends to facilitate the building of nuclear power plants in return for better terms and access in the oil and gas industry in countries with which it already has long-running relationships, Christophe de Margerie, the company's chief executive, said in an interview with the Financial Times.

He said this strategy was behind plans unveiled in January for Total, French nuclear group Areva and the utility Suez to build two pressurised water reactors in the United Arab Emirates.

Mr de Margerie said he expected to sign a deal with another Middle Eastern country soon.

Nuclear companies such as Areva have failed to gain a significant foothold in the Middle East because executives assumed that the gas-rich region would not need their services.

But other than Qatar, many countries in the region have failed to tap their gas resources and now face looming shortages amid booming economies and growing gas-heavy industries, such as petrochemicals.

"I told the UAE: Why don't you think about nuclear?" Mr de Margerie said.

In the longer term, Total could also help India build nuclear reactors to produce power, he added.

But he said Total would not settle for a broker's fee for such an arrangement. "Why should we get rewarded just as electricity contractors?"

In a separate interview, Paolo Scaroni, chief executive of Eni, said he was actively looking to follow Total's lead.

He said Egypt and Algeria were possible candidates for the Italian company.

Eni would suggest nuclear power capacity as an alternative to gas to countries that either needed gas for their growing internal market or wanted to sell it abroad.

"It is logical for us [to say to them]: We make nuclear and you keep the gas," he said.

more: [link to www.ft.com]
Anonymous Coward
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10/08/2008 12:42 AM
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Re: Big Oil will build nuke plants all over the Middle East
bump
Anonymous Coward
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09/20/2012 11:30 PM
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Re: Big Oil will build nuke plants all over the Middle East
muslims can be trusted with nuclear weapons about as much as toddlers can be trusted with loaded firearms. look at pakistan, they're just waiting for an excuse to use theirs, advocating war against india every other state-media broadcast.

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