SEOUL. Friday, April 29, 2011 3 pm EDT
Seoul (Reuters) - the Japan nuclear crisis could lead to a decline of two or three years on the market of nuclear reactor, but demand will increase in the long term, a senior at the Korea Electric Power Corp. said Friday.
Worse-on-record of the quake and tsunami March 11 Japan paralysed the Fukushima Daiichi nuclear power station, 240 km (150 miles) North of Tokyo. Japanese engineers have difficulty finishing the worst nuclear crisis in the world since the 1986 Chernobyl accident.
"The Japan crisis may affect the market in the next two or three years, but in a few decades nuclear demand will increase due to a lack of alternative energy," Byun Jun-yeon, executive vice president and officer of the State utility KEPCO nuclear project leadersaid in an interview to Reuters.
He said renewable energy would continue to play only a supplementary role because of its poor economy.
China currently appears to be scaling back its plans of nuclear power plants, but cannot stop, because it is difficult to meet their demand for huge power without nuclear reactors, and emits thermal coal electricity production also of carbon, "byun." added
China last month froze nuclear approvals for new and proposed nuclear power plants in the wake of the crisis of the Japan.
TAKING THE GOAL IN UPCOMING TENDERS
Byun, who majored in electrical engineering at the University of Korea and KEPCO added in 1977, stated that the Brazil, in Egypt, Saudi Arabia, Argentina and South Africa are preparing tenders for nuclear reactors which could come later this year.
He declined to discuss specific transactions, but said KEPCO had intended to win tenders and Saudi Arabia have evaluated technologies for operation of the KEPCO reactor high compared with other countries.
"Importers of reactor want models that guarantee the security, the economy and energy efficiency... they also want builders who can help them run reactors at least 20 to 30 years later," said Byun.
"South Korea has no mention of the accident in its history of operation of the reactor nearly 40 years", he said.
KEPCO has been aimed at winning orders overseas for a total of 10 nuclear reactors by 2020. The United Arab Emirates United in December 2009 awarded a contract for $ 20 billion to build four 1,400 MW reactors, the largest energy deal in the Middle East, to a Korean consortium led the KEPCO. (Won Korean $1 = 1073.400)
(Edited by Jonathan Hopfner and Michael Urquhart)
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