Ankara moves on nuclear power initiative
The Turkish government is starting to look to nuclear power as an alternative source of energy as the country's demand for energy grows, and is the process of getting approval from the International Atomic Energy Agency.
Mohamed ElBaradei, IAEA head, was in Istanbul recently and said in a statement that he gives his green light to Turkey's application.
Building a plant in Turkey could take at least five to seven years before becoming operational, but Turkey's electric energy supply is in immediate need and cannot afford to wait, Turkish officials say.
The Energy and Natural Resources Ministry plans to encourage investments from the Turkish private sector to encourage investors to invest in new power plants to meet the rising demand, presumably on a build-and-operate basis.
But Turkey expects to face power shortages by 2012, if not earlier, officials said.
Experts say a nuclear power plant of 100 megawatts has a capacity to meet only 5 percent of Turkey's electric energy needs. With ongoing shortages in electric power supply even at the moment, and the country rapidly industrializing, Turkey hopes to diversify its electric supply sources.
Energy and Natural Resources Minister Hilmi Guler has already invited 13 prominent Turkish private sector company CEOs to solicit their opinions on how to build this first nuclear plant with foreign partner collaboration.
Pakistan eyes private investment in nuclear sector
Islamabad said it plans to offer additional incentives to foreign investors willing to participate in setting up nuclear power plants in the proposed "Designated Nuclear Power Parks" under International Atomic Energy Agency safeguards.
Local media reported the Private Power and Infrastructure Board is working out fiscal and non-fiscal incentives to attract foreign investment as the country seeks to diversify its energy consumption.
The government said it would provide enhanced facilities and tax concessions to the foreign investors interested in setting up private nuclear power plants in Pakistan.
Pakistan is assuring the international community that its nuclear power sector would meet IAEA safeguards to address "proliferation concerns" of the United States and other western countries.
But some experts remain skeptical that attracting considerable foreign investment in the nuclear power parks would prove difficult owing to opposition by the United States.
Pakistan's gas reserves are dwindling and rising oil prices demand that the government reduce the heavy dependence on natural gas for industry, power generation and commercial and household use. Its natural gas reserves may begin declining by 2010 and the government is looking for a plan to meet the situation.
Tehran to export gas to Europe via Turkey
Iranian said it wants to export natural gas to Europe via neighboring Turkey.
Kazem Vaziri-Hamaneh, Iranian oil minister, said last week the two sides will continue to hold talks to assess options on how best to make this possible.
"During this visit, Iran's gas export projects through Turkey were clarified and will soon be finalized," local media reports quoted him as saying Friday. "It was planned to increase the capacity of Iran's pipeline, which is connected to the Turkish pipeline, and export gas to Europe jointly with Turkey."
Neither side mentioned when exports would begin.
Turkey buys Iranian gas, which is carried through a pipeline from the northwestern city of Tabriz to Ankara.
"There are three options to export gas from Iran to Europe via Turkey, of which, Nabucco Project (Turkey-Austria) and the existing pipe are still on the agenda," Vaziri-Hamaneh said.
Iran anticipates that some 90 of Nabucco's available capacity will be assigned for its gas.
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Closing oil prices, Aug. 21, 3 p.m. London
Brent crude oil: $72.30
West Texas Intermediate crude oil: $70.90
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