UAE energy minister: We won't change our nuclear energy plans

Mohamed Bin Dhaen Al Hamli told the WEF: There will be a much greater emphasis on safety after the Fukushima incident.

"Our strategy for nuclear power will not change because of the Fukushima incident. There will be much greater emphasis on nuclear safety but, in the long run, it will not derail our plans." United Arab Emirates Minister of Energy Mohamed Bin Dhaen Al Hamli told the World Economic Forum (WEF) Annual Meeting of the New Champions in Dalian, China, today.

"We have a lot of oil and gas, but we must renew and diversify, including into nuclear energy," he added. "We are fortunate that we are in the inception stage and can incorporate the latest safety features. Just because of Fukushima, we cannot condemn an entire industry."

Asked whether Arab Spring would derail nuclear energy plans, Al Hamli said, "People have to cool their homes and they need energy. It's important to remember that the Middle East is always stormy, but business continues as usual."

"Solving the problems that the Fukushima nuclear power disaster left behind is Japan's priority," Mitsubishi Corporation chairman Yorihiko Kojima. He said that the use of nuclear energy would continue because, "while renewable energy is important, it will take a long time and a lot of resources. We must solve the problems at Fukushima and establish new safety and security standards. Japan's industry relies on nuclear energy and ending its use would be problematic and could send manufacturing abroad."

Russian mining and energy company EN+ Group CEO Artem Volynets said that it would be simply impossible for Russia to walk away from nuclear power. "We won't see a halt in the development of nuclear energy, but development might slow down a bit."

Published by Globes [online], Israel business news - - on September 14, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018