Nuclear plants to help Turkey save $7.2bn in gas imports

Turkish Energy Minister Taner Yildiz said, "We will end the imports of 7.2 billion dollars worth of natural gas to Turkey with the new nuclear power plants' stepping in." Turkish Energy Minister Yildiz spoke to press on Monday at the Turkish Petroleum Corporation on the agreements signed with Russia and Japan on nuclear power plant projects. He stated that the price Turkey would pay per kWh in the agreement on the nuclear power plant was 12.35 dollars to Russia and 11.80 dollars to Japan including the fuel and 10.80 dollars excluding the fuel. "According to the agreement signed with Japan, 49 pct of the shares will be owned by EUAS and 51 pct will be owned by the Japanese company," said Yildiz. Yildiz also announced that the agreement with Japan also includes a new university to be built in Turkey where there will be scholars from both Japan and Turkey. "Very likely, we will achieve our goal of a national nuclear power plant after building eight units. We believe that Turkish engineers will build the ninth and tenth units," Yildiz noted. Yildiz also stated that up to half of EUAS shares might be sold either through public offering or block sale.