FuturesNews - China to expand Nuclear Energy

This was in the news today - China's State Council has approved the energy blueprint for 2005-2020 with nuclear to play an "integral role". "According to the blueprint, nuclear power is a strategic energy source and should be actively developed to meet the country's growing demand," China Daily reported.

"Nuclear power stations will be integral to the country's energy strategy and will play a significant role in enhancing national strength and technology."

By 2020, the country's nuclear power generation capacity is expected to reach 40,000 Megawatts, or four percent of China's total power output, the report said, citing government think-tank China Atomic Information Network. Currently, China has a nuclear generating capacity of 8,700 megawatts, which represents about two percent of total energy output. To attain 40,000 Megawatts, China has to build at least one nuclear power station with a capacity of 1,800 megawatts annually, states the network.

China already has 11 nuclear reactors in operation and had previously announced plans to build dozens more. This has definitely attracted the focus of several countries including neighbouring Russia which just announced its plan to build mega gas pipelines to China. Russia has shown its intention to compete with French and US companies to build up to 4 reactors in China. In addition, Australia have offered to sell uranium to China, which would put it in direct competition with Canada.