Finally, a built nuclear power plant comes with a guaranteed fuel supply from the vendor, who will source for uranium to be mined, converted and enriched in order to fabricate and assemble the fuel specific to the reactor. Unlike LNG, its price is thus shielded from geopolitical volatility. Hence, if Singapore operates a nuclear power plant, it can be considered an indigenous source of energy.
Furthermore, a nuclear power plant needs to be refuelled, on average, once every two years. This means Singapore could rely on a dependable source even through a prolonged regional energy crisis.
FRESH URGENCY FOR ENERGY RESILIENCE
The war in Iran has underscored how much of an existential issue energy is. And Singapore’s vulnerability is not due to natural gas in itself, but from its dependence on imported energy – be it oil, natural gas or even electricity.
This is not unique to Singapore. China, India, Japan and South Korea import more oil and gas from the Middle East than most other countries within Asia. However, these countries operate nuclear power plants which offer them a level of resilience in their energy portfolios.