16 Saudi Nuclear Reactors To Cost $300 Billion -- Arab NewsJEDDAH: Saudi Arabia is planning to build 16 nuclear reactors over the next 20 years at a cost of more than $300 billion, according to a top official.
Abdul Ghani bin Melaibari, coordinator of scientific collaboration at King Abdullah City for Atomic and Renewable Energy, also said that arrangements were being made to offer the project for international bidding and the winning company should satisfy the Kingdom’s needs for modern technology.
He made the remarks during the Gulf Environment Forum, which concluded in Jeddah on Tuesday.
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My Comment: With huge reserves of oil and natural gas .... why go nuclear?
"With huge reserves of oil and natural gas .... why go nuclear?"
ReplyDeleteThe reserves make no difference for an economist because of the opportunity costs of consuming them.
It's no different if you buy 50$ oil and burn it or have 50$ oil that you could sell but do burn.
The economic cost is in both cases 50$.
Nuclear powerplants deliver electricity and thermal residual energy. The latter can be used in (petro)chemical industries or for housing units in winter.
The Saudis are most likely interested in nuclear power for electricity. Crude oil products have been understood to be a very expensive fuel for electricity generation since 1973. There's no major oil-based powerplant left in Europe afaik, so why should the Saudis waste oil for electricity if they can sell it?
There are competing technologies, of course. Solar power would be an obvious candidate, backed up by gas power for nighttime electricity supply.
Nuclear power is only practical near water reservoirs; on either coast. The Saudis will not be able to operate a nuclear power plant anywhere near Riad and they will surely not risk to build one near either Mecca or Medina.