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Total Eyeing Nuclear Energy
5 February 2007
Total, the French energy group, will eventually have to enter the nuclear energy business, Christophe de Margerie, incoming CEO, told the Financial Times.
“Being in the energy business, [which] we consider not only as our business but also as a responsibility vis à vis the consumers, we will certainly one day have to be part of this [nuclear] adventure.”
He said that it was not an immediate concern, but, as access to hydrocarbons became more difficult, Total was having to branch out into other forms of energy. Renewables would only satisfy a small portion of the world’s overall energy needs, he said, though they would be important in countries that lacked oil and gas.
So for Total, he said rhetorically: “If it is not hydrocarbons, if it is not renewables, if it is not nuclear, what is it?”
February 5, 2007 in Brief | Permalink | Comments (3) | TrackBack (0)
Comments
Posted by: stomv | February 05, 2007 at 08:47 AM
"Renewables would only satisfy a small portion of the world’s overall energy needs"
Who has this guy been listening to? Even France could produce a large amount of power from renewables if that is where they put their money. (They may not have any deserts but last I checked they have coastlines with waves)
Posted by: Neil | February 05, 2007 at 11:27 AM
Neil,
France has the world's largest tidal dam generation already. It has been tapping the tides on the Rance river for 40 years.
Despite the projected costs for 'tomorrow', renewables (other than hydro) can't touch nuclear or coal for capital costs today.
France is already pretty well maxed out on nuclear. They generate 80% of their domestic electricity from nukes, export electricity to Italy and Germany and they have another one that has started construction.
Total is not currently a player in the European nuclear industry. I am curious what Total has in mind. Do they have a vision of going beyond the electrical generation market with nuclear power?
Posted by: Bill Young | February 05, 2007 at 06:09 PM
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Conservation? (ducks)