AIRLINK 74.85 Increased By ▲ 0.56 (0.75%)
BOP 4.98 Increased By ▲ 0.03 (0.61%)
CNERGY 4.49 Increased By ▲ 0.12 (2.75%)
DFML 40.00 Increased By ▲ 1.20 (3.09%)
DGKC 86.35 Increased By ▲ 1.53 (1.8%)
FCCL 21.36 Increased By ▲ 0.15 (0.71%)
FFBL 33.85 Decreased By ▼ -0.27 (-0.79%)
FFL 9.72 Increased By ▲ 0.02 (0.21%)
GGL 10.45 Increased By ▲ 0.03 (0.29%)
HBL 112.74 Decreased By ▼ -0.26 (-0.23%)
HUBC 137.44 Increased By ▲ 1.24 (0.91%)
HUMNL 11.42 Decreased By ▼ -0.48 (-4.03%)
KEL 5.28 Increased By ▲ 0.57 (12.1%)
KOSM 4.63 Increased By ▲ 0.19 (4.28%)
MLCF 37.80 Increased By ▲ 0.15 (0.4%)
OGDC 139.50 Increased By ▲ 3.30 (2.42%)
PAEL 25.61 Increased By ▲ 0.51 (2.03%)
PIAA 20.68 Increased By ▲ 1.44 (7.48%)
PIBTL 6.80 Increased By ▲ 0.09 (1.34%)
PPL 122.20 Increased By ▲ 0.10 (0.08%)
PRL 26.58 Decreased By ▼ -0.07 (-0.26%)
PTC 14.05 Increased By ▲ 0.12 (0.86%)
SEARL 58.98 Increased By ▲ 1.76 (3.08%)
SNGP 68.95 Increased By ▲ 1.35 (2%)
SSGC 10.30 Increased By ▲ 0.05 (0.49%)
TELE 8.38 Decreased By ▼ -0.02 (-0.24%)
TPLP 11.06 Decreased By ▼ -0.07 (-0.63%)
TRG 64.19 Increased By ▲ 1.38 (2.2%)
UNITY 26.55 Increased By ▲ 0.05 (0.19%)
WTL 1.45 Increased By ▲ 0.10 (7.41%)
BR100 7,841 Increased By 30.9 (0.4%)
BR30 25,465 Increased By 315.4 (1.25%)
KSE100 75,114 Increased By 157.8 (0.21%)
KSE30 24,114 Increased By 30.8 (0.13%)
World

Iraq hopes to build 8 nuclear power reactors by 2030

  • The country currently uses electricity and gas imports from neighbouring Iran to generate around a third of its electricity.
Published June 15, 2021

BAGHDAD: Iraq, which suffers chronic electricity shortages, wants to construct eight nuclear power reactors by 2030 in order to reduce its external energy dependence, an official said Tuesday.

The country currently uses electricity and gas imports from neighbouring Iran to generate around a third of its electricity.

"By 2030-2031, we want to produce 25 percent of our electricity needs through nuclear power," Kamal Latif, head of the Iraqi Radioactive Sources Regulatory Authority, told AFP.

Nuclear power "is cheaper and available every day of the year, unlike solar or other renewable energies," he added.

Latif said that negotiations currently underway with "Russian, Korean, Chinese, American and French" companies could lead to the "signature" of a deal by year-end.

He declined to comment on reports that put the cost of the new reactors at $40 billion, only saying Iraq would negotiate payment facilities "over 20 years, with the possibility of low-interest loans".

The Russian company Rosatom, quoted by the TASS news agency, said it was discussing with Iraq "the whole agenda of possible cooperation on energy and non-energy applications of nuclear technologies for peaceful purposes".

Experts believe that rather than going nuclear, Iraq should renovate its infrastructure, as it loses 30 to 50 percent of its energy during transmission due to outdated circuits.

Iraq, the second largest producer in the OPEC oil cartel, has already announced a multi-year plan to capture natural gas that it currently burns at a cost of $2.5 billion a year, according to the World Bank.

In order to upgrade its energy infrastructure, Iraq has signed memorandums of understanding with Germany's Siemens and the US's General Electric, but the projects have yet to get underway.

Comments

Comments are closed.