NEI Nuclear Notes â€” an excerpt on UAE developments, where the UAE has announced the $20.4 billion award to a South Korean consortium to build four new nuclear reactors as part of the UAE’s massive new nuclear energy program.
(…) And hereâ€™s an interesting story from Emirates Business â€“ we expect the whole Dubai World story has caused them some sleepless nights â€“ on just why UAE is considering nuclear energy:
“These are very important and strategic long-term projects, which will contribute to saving the UAE’s hydrocarbon wealth and at the same time boosting its crude exports as nuclear power will partly offset the rise in the UAE’s energy consumptionâ€¦ this in turn will allow the UAE to increase revenue,” said Mohammed Asumi, a Dubai-based Gulf economist.
“I also expect these projects, when commissioned, to depress electricity generation costs in the UAE because nuclear power is less costly.”
Well, we knew money had to play a part somewhere in this, but we were happy to see Asumi note that a nuclear plant will bring down costs. Presumably, UAE could also export some of the nuclear generated electricity to neighbors such as Oman and Qatar.