• 45 mins Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 2 hours Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 hours Mexico Says OPEC Has Not Approached It For Deal Extension
  • 5 hours New Video Game Targets Oil Infrastructure
  • 6 hours Shell Restarts Bonny Light Exports
  • 8 hours Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 14 hours Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 19 hours British Utility Companies Brace For Major Reforms
  • 23 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 1 day Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 1 day Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 1 day OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 1 day London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 1 day Rosneft Signs $400M Deal With Kurdistan
  • 1 day Kinder Morgan Warns About Trans Mountain Delays
  • 2 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 2 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 7 days Trump Passes Iran Nuclear Deal Back to Congress
  • 7 days Texas Shutters More Coal-Fired Plants
  • 7 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 7 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
Alt Text

New Tech Is Transforming Japan’s Energy Sector

The tech that built bitcoin…

Alt Text

Russia’s Nuclear Sector Is Surging

With a long-standing nuclear tradition,…

Alt Text

Rising Costs Slow The Growth Of Nuclear Power

High costs and public fears…

John Daly

John Daly

Dr. John C.K. Daly is the chief analyst for Oilprice.com, Dr. Daly received his Ph.D. in 1986 from the School of Slavonic and East European…

More Info

Foreign Investment Sought for Turkey’s First Nuclear Power Plant

Foreign Investment Sought for Turkey’s First Nuclear Power Plant

Despite the catastrophe that overwhelmed Tokyo Electric Power Co.’s six reactor Fukushima Daiichi nuclear power complex on 11 March 2011, the global energy community has cautiously decided to press forward with a new generation of NPPs, a trend most notable in developing countries with surging economies, including China, India and Turkey. Despite regional opposition,

Turkey is pressing forward with an ambitious nuclear program to provide 10 percent of its electricity needs by 2023 and reduce its dependence on imports of oil and gas for nearly all its energy.

Turkey’s first NPP complex is scheduled to include four 1,200 MWe VVER-1200 reactors to be built at Akkuyu under a 2010 agreement between the governments of Russia and Turkey, and scheduled to come online in 2019–22.

Related articles: Poland Plans Nuclear Future, Despite Public Wariness

And Akkuyu is to be only the first of a number of NPPs planned for Turkey. Last year, addressing a "New Energy Corridor" forum as part of the World Economic Forum on 14 June in Istanbul, Energy Minister Taner Yildiz told his audience, “We are a country without a nuclear power plant. However, we are determined to have nuclear power plants. We want to meet our increasing energy needs by erecting at least 23 nuclear units by the year 2023. This implies building nuclear power plants in three regions of Turkey. We don’t see a delay in the project. We expect construction to be completed by end-2019 and the first reactor to become operational in 2020”

Who is going to build this Turkish nuclear brave new world?

The Russian Federation’s state-owned firm Rosatom subsidiary Atomstroiekhsport, which, like its competitors U.S. firms General Electric and Westinghouse, France’s Areva and Japan’s Mitsubishi, have been scouring the globe for business.

If that is the good news, then the potentially bad news for the Akkuyu NPP site near Turkey's southern Mediterranean coast is that the plant would be built in a region subject to earthquakes. On 27 June 1998, a major earthquake measuring 6.3 on the Richter scale occurred in nearby Adana, which damaged 74,300 buildings, killed 150, injured 1,000 and caused damage estimated at $1 billion. Unsettling Turkish anti-nuclear activists, an active seismic fault line, the Ecemis fault, runs close to the Akkuyu site, only 15 miles away. Not surprisingly, many Turks nearby fear that the 4,800-megawatt Akkuyu facility, if constructed, could suffer a meltdown like Ukraine’s Chernobyl nuclear facility underwent in April 1986.

Turkey is one of the most seismically active regions in the world, rating 6th in the world of nations suffering annual earthquakes measuring 5.5 or greater on the Richter scale. Earthquakes have killed 950 citizens and have produced an average annual economic loss of over $1 billion over the past decade.

Related articles: Despite PR Push, Nuclear Still Faces Uphill Battle

But no matter.

In a canny effort to spread the risk, the Russian State Duma, while allocating $ 1.4 billion for the NPP, is seeking foreign investment. Rauf Kasimov, deputy general manager of Akkuyu NPP, stated during an interview, “Five Turkish companies have applied to become an equity partner. Also there are foreign companies who have applied as well. We have held meetings with over 30 companies for the construction. All of Turkey's big construction companies such as Enka, Tekfen, Nurol, Limak, Kolin are interested. We hope to open the tender by February.”

For Turkish environmentalists, the faint hope remains that the project has yet to obtain a construction license and approval of a key environmental assessment from Turkish authorities, which was initially expected this month. Given that a license for the Akkuyu site was issued in 1976, it would seem that the hopes of the Turkish anti-nuclear protestors are unlikely to prevail.

By. John C.K. Daly of Oilprice.com




Back to homepage


Leave a comment
  • SteveK9 on November 22 2013 said:
    The 50-year old designs at Fukushima survived a magnitude 9.5 earthquake with no problem. The tsunami knocked out the backup generators (protecting these would not have been difficult). In fact, the Japanese reactor closest to the earthquake epicenter suffered no damage at all (Tsuruba, I believe). It should also be noted that not one person died of radiation (or will) because of the meltdown.

    One might also note the information given on the author:
    Company: U.S.-Central Asia Biofuels Ltd
    Position: CEO
  • Matt Robinson on November 24 2013 said:
    John Daly is more focussed on making his anti-nuclear view public than any real reporting on news.

    He continues to deny the science of radiation and the realities of Fukushima (and Chernobyl) to push his anti-nuclear agenda.

    John recognises the threat nuclear power poses to his own industry (and to fossil in general) and so he fights it as hard as he can.

    This in itself is understandable, but the non-scientific, fear-mongering, anti-nuclear slogan-based approach is getting old.

    I wonder when OilPrice.com will wake up and censor some of his gibberish?

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News