How could the nuclear energy impact the oil and gas market in the Middle East?
SpecialEurasia published the second report of our project “Geopolitics of Nuclear Energy in Eurasia” titled “How could the nuclear energy impact the oil and gas market in the Middle East?” in partnership with ASRIE Analytica and CeSEM – Centro Studi Eurasia Mediterraneo.
Author: Ivelina Dimitrova
Abstract
Nuclear power is slowly but massively entering the Middle East region as more and more countries that can afford to implement it financially choose to build nuclear power capacity. Nuclear energy is the only way to balance their energy systems and to guarantee sufficient supplies that can satisfy the rapidly growing energy needs of all the countries from the region. Nuclear energy is safe, clean, and constant, making it an ideal balancing source in the energy mixes, especially if there is a considerable percentage obtained from renewables as they are not always a constant and predictable energy source. At the same time, nuclear energy brings technical progress and creates highly skilled jobs. However, due to increased energy demands worldwide, the oil and gas market in the region will continue to operate, and fossil fuels, in short and middle-term perspectives, will continue to be obtained, exported, and consumed. Economic profitability is the decisive factor for this, as well as the international climate legislation and to what extent the countries from the region will apply and observe it.
Key Words: nuclear energy, Middle East, geopolitics, oil & gas
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