After a late entrance to the nuclear power game in the 1990s, China has risen through the ranks to represent the third biggest nuclear fleet in the world with 45.9 gigawatts of installed nuclear power production capacity at the end of 2018, and they’re showing no signs of slowing down. Projections released by the Chinese government show that China could take the United States’ place as the number one nuclear energy producer in the world within the next ten years. As World Politics Review reports, “Chinese companies have been eyeing export opportunities from Argentina to Saudi Arabia and from the United Kingdom to Romania. Nuclear energy officials in Japan, South Korea, France and the United States fear that China’s state-owned nuclear companies are taking advantage of the same kind of government policies and commercial practices—from protectionism and subsidies to espionage and intellectual property theft—that they believe have helped China to dominate other industrial sectors.” This is not the full story, however, as the Chinese nuclear sector may have grand plans, but may not actually have the means to fully realize them. In fact, according to a forecast released by the China Electricity Council just this week, China will not be able to meet its lofty nuclear power generation goal for next year. The nation’s target for total nuclear capacity by 2020 is 58 gigawatts (GW), but China will likely fall short at a projected 53 GW, according to numbers cited by China Electricity Council vice chairman Wei Shaofeng at the selfsame China Nuclear Energy Sustainable Development Forum where Chinese nuclear potential was being touted by many other industry insiders.
Oil Price 2nd May 2019 read more »