Turkey, S. Korea move toward nuclear power plant agreemnets

Energy and Natural Resources Minister Taner Yildiz said yesterday that he is confident negotiations with South Korea's KEPCO over a nuclear power plant planned for Sinop will be resolved by the end of the month. Speaking to reporters after meeting with South Korean Ambassador to Ankara Jae Hyun Bae in his office at the ministry, Yildiz said a 500-page document was drafted after discussions over issues such as the purchase guarantee, nuclear liability, project financing, ownership, partnership structure, and Treasury guarantees. Saying that KEPCO's head would visit Ankara this weekend, Yildiz added, "An agreement on basic principles must be reached by the end of the month. If we don't agree on these things, then the possibility of discussing the details will decrease. But I'm very hopeful … I believe we can solve the problems and reach a good point through mutual understanding." Ambassador Jae echoed Yildiz's confidence, saying he also believes the negotiations will end well. South Korea is well advanced in the field of nuclear energy and has yet to see any accidents, he added. In related news, speaking later at the opening of the Akocak Hydroelectric Power Plant in the Black Sea province of Trabzon, Yildiz said that all energy resources are equally indispensible and investments must be maintained to provide the nation with electricity 24 hours a day.