Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
WEDNESDAY, 16 APR 2014
01:20 PM Beirut time
Weather    
Beirut
22 °C
Blom Index
BLOM
1,214.01down
Middle East
Follow this story Print RSS Feed ePaper share this
Australia, UAE agreement paves way for uranium sales
Reuters
A+ A-

ABU DHABI: Australia and the United Arab Emirates signed an agreement paving the way for sales of Australian uranium to the UAE's fledgling nuclear power programme, officials said on Tuesday.

"It is a commitment by the Australian government setting up conditions under which nuclear material will be supplied to the UAE," Australian Foreign Minister Bob Carr told a news conference.

"It sets up a framework under which we will become a reliable supplier of uranium to the UAE."

UAE Foreign Minister Sheikh Abdullah bin Zayed al-Nahyan said: "This is not a commercial agreement. It is just outlining the nature of the relationship between the two countries in this sector. It is up to future work between importers and exporters to reach the suitable prices and quantities."

Two weeks ago the UAE's nuclear regulator granted a licence to Emirates Nuclear Energy Corp (ENEC) for construction of the country's first two nuclear reactors, which will be built by a South Korean-led consortium, a project worth billions of dollars.

ENEC said last year that it was in talks with a number of countries including Australia and Russia to buy fuel for the reactors. The consortium plans to build and operate four 1,400 megawatt reactors, with the first starting operations in 2017.

The UAE will be the first Gulf Arab state to begin building a nuclear power plant. It wants to save its oil reserves for export rather than using them to generate electricity, for which demand is rising rapidly.

Before granting the contract to the South Korean consortium, the UAE signed an agreement under the U.S. Atomic Energy Act with the United States in early 2009, forfeiting its right to enrich uranium domestically.

 
Home Middle East
 
     
 
Australia / United Arab Emirates
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Tuesday April 15, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Silencing Ayaan Hirsi Ali’s hate talk
Michael Young
Michael Young
The presidential chess game has begun
David Ignatius
David Ignatius
China moves to the scary side of its boom
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS