The nuclear industry is poised to capitalise on Donald Trump’s war in Iran, as governments around the world seek more stable low-cost sources of energy and rethink prior resistance to atomic power.
Boris Schucht, chief executive of Urenco, which is part-owned by the UK and Dutch governments, told the FT a “nuclear renaissance” was already under way and would accelerate due to the shock of the oil and gas supply shortages caused by closure of the Strait of Hormuz. He said the company had compiled a record $21.3bn order book for its uranium and fuel products.
“The supply crisis in the Middle East will refocus policymakers and industry on energy security and the need to have some form of baseload power in countries that is independent from supply threats,” he said in an interview. “This will make deployment of nuclear energy even more important . . . as countries seek energy independence.”