weekly spot price up 10%!, page-4

Now Bangladesh has made serious moves to go into nuclear power ... "aims to produce power by 2014" ... which means they will be locking in their uranium around 2012.

We are going to see more of this sort of thing every month.

Bangladesh signs MoU with Russia for nuclear power
Bangladesh signed a memorandum of understanding (MoU) with Russia to develop a plan for a nuclear power plant to produce up to 1,000 megawatts to ease its energy shortage, a senior energy official have said.

The project, which may cost between $1.5 billion and $2.0 billion, aims to produce power by 2014, said Tawfiq-e-Elahi Chowdhury, adviser to the prime minister on power, energy and mineral resources. A delegation from the Bangladesh Atomic Energy Commission will visit Russia next month to develop technical expertise, he said.

“With the signing of the MoU we have diversified the sources for producing electricity,” Tawfiq told reporters after signing the deal.

Bangladesh laws allow the peaceful use of nuclear energy, he said. Growing concern over a shortage of power led Bangladesh to consider nuclear as natural gas reserves were fast depleting.

The gap between demand and supply of natural gas will be wider after 2011 unless new gas fields are discovered and explored, energy officials said. reuters