Nuclear Battle: Japan vs. South Korea

Feb. 10, 2010 08:57AM PST

Japanese private utilities firms have some stiff competition especially when it comes to state-backed utilities companies looking to secure uranium and nuclear contracts, especially Korean companies. “Uranium in particular stands to benefit from the nuclear renaissance, in our view, which appears to be kicking into high gear,” says Bart Jaworski, analyst at Raymond …

Japanese private utilities firms have some stiff competition especially when it comes to state-backed utilities companies looking to secure uranium and nuclear contracts, especially Korean companies.

“Uranium in particular stands to benefit from the nuclear renaissance, in our view, which appears to be kicking into high gear,” says Bart Jaworski, analyst at Raymond James.

Japan, which obtains 65 per cent of its energy from nuclear power, has found itself competing with its neighbours not only for uranium deposits but also for international nuclear power plant contracts. State-owned Korea Electric Power Corp. (KEPCO)-led nuclear energy consortium recently beat out the Japanese competition for a $20 billion deal with the United Arab Emirates (UAE).