Saipem has signed an agreement with New Cleo to find solutions for theoffshore application of technology of the same Newcleo linked to the sustainable nuclear energy production. “Zero-emission energy production through floating offshore plants equipped with new-generation compact reactors can represent a new frontier for the energy transition", said the CEO of Saipem, Alessandro CleanSaipem's interest in nuclear energy is part of its technological development program dedicated to the energy transition to contribute to the achievement of the Net Zero objectives by 2050.
Saipem is picking up a number of new contracts lately. Right yesterday signed agreements with Saudi Arabia for one billion dollars, while last month it was the turn of Qatar for 3 billion dollars. The Saipem title at Piazza Affari this morning it is quoted at 1,89 euros, down 1,48%, in a FtseMib up 0,32%. In the last month it has lost 3,91%.
The first objective is the Offshore oil and gas installations
The immediate objective is to study the application of Newcleo's technology, the so-called 'Small Modular Lead-cooled Fast Reactor' (SM-LFR) to provide zero-emission electrical energy and process heat to Offshore oil and gas installations and to improve sustainability performance.
Newcleo's Small Modular Lead-cooled Fast Reactor (SM-LFR) technology, a statement says, is one of the most promising technologies in the small-scale nuclear fission reactor sector. It uses passive safety systems (i.e. those that exploit natural forces or phenomena without requiring active mechanisms) unique in the marine environment and allows for greater efficiency in the use of extracted uranium compared to other types of conventional fission reactors, thanks to the reuse of spent fuel used by other reactors, in line with the principles of the circular economy.
In the future, it will be possible to connect floating units to land
But then the agreement includes the possibility of extending the use of Newcleo's technology to generate zero-emission electricity through floating nuclear units connected to the shore-based power grid or to other users.
Saipem “is an ideal partner for Newcleo, which aims to collaborate with the main players in the energy world to promote technological innovation for a sustainable future” said Stefano Buono, CEO of Newcleo. “Our new generation reactor technology will not only reduce the environmental impact of offshore oil & gas operations” he added, underlining that “this is the first agreement between two European companies for the offshore application of our sustainable nuclear technology and we are honored to work with such a recognized partner. We believe that this synergy can revolutionize the industry, contributing in a concrete and significant way to the decarbonization of the sector and the global energy transition”.
