UAE's First Nuclear Reactor to Operate in 2018

UAE Energy Minister Suhail bin Mohammed al-Mazroui talks to reporters during the 15th International Energy Forum Ministerial (IEF15) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina
UAE Energy Minister Suhail bin Mohammed al-Mazroui talks to reporters during the 15th International Energy Forum Ministerial (IEF15) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina
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UAE's First Nuclear Reactor to Operate in 2018

UAE Energy Minister Suhail bin Mohammed al-Mazroui talks to reporters during the 15th International Energy Forum Ministerial (IEF15) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina
UAE Energy Minister Suhail bin Mohammed al-Mazroui talks to reporters during the 15th International Energy Forum Ministerial (IEF15) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina

The United Arab Emirates’ first nuclear reactor will definitely be operational next year with the operating company getting a license in 2018, the UAE’s energy minister Suhail al-Mazroui said on Monday. The world’s largest single nuclear project, the Barakah plant will have capacity of 5,600 megawatts (MW) of electricity, with four 1400 MW reactors.

During a press conference held on Monday morning in Abu Dhabi, Mazroui said that UAE Vision 2021 aims at putting the UAE among the international states, and this has pushed it to adopt a policy to diversify energy resources in a way that reduces consumption of fuel and natural gas.

He added that UAE Energy Plan 2050 gives the priority to nuclear energy and aims at reinforcing use of environment friendly energy resources and reducing dependence on other fuel resources in the upcoming three years.

The first reactor, which is 96 percent complete, is located in the Barakah plant – the world's largest single nuclear project. All four reactors will have the capacity of 5,600 megawatts of electricity. The first reactor is 96 percent complete, while the second is 86 percent complete, the third 76 percent complete and the fourth is 54 percent complete.

He pointed out the International Ministerial Nuclear Conference on Nuclear Power in the 21st Century is set to kick off in Abu Dhabi next month, which signifies UAE's immense efforts and strategies for its peaceful and clean nuclear programme. The conference begins on October 30 and ends on November 1.

Mazroui clarified that the conference is an idol platform that gathers experts and people interested in the energy sector on a world-scope to carry out constructive dialogues on the approaches of the energy markets.



Escalating Hormuz Tensions Drive Up Middle East War Risk Insurance Costs

A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
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Escalating Hormuz Tensions Drive Up Middle East War Risk Insurance Costs

A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER

War risk insurance premiums for shipments to the Middle East Gulf have jumped to 0.5% from around 0.2-0.3% a week ago after US airstrikes on Iran’s nuclear facilities and growing risks to the critical Strait of Hormuz, insurance sources said on Monday.

The cost of a seven-day voyage is based on the value of the ship and the increase will add tens of thousands of dollars each day in additional costs.

While underwriters typically price risk and rates individually, the current 0.5% level reflected rates on Monday, the sources told Reuters and The Insurer, which is part of the Thomson Reuters group.