US and Philippines sign landmark nuclear deal

The Philippines is exploring the use of nuclear power to decarbonize and increase energy independence.

Speaking at a signing ceremony held on the sidelines of the APEC Summit in San Francisco, US Secretary of State Antony Blinken said: “The United States will be able to share equipment and materials with the Philippines as they work to develop small modular reactors and other civilian nuclear energy infrastructure.”

According to Reuters, negotiations on the 123 Agreement began in November 2022.

“We see nuclear energy as part of the Philippine energy mix by 2032 and we are excited to pursue this path with the United States,” Philippine President Ferdinand Marcos Jr. said in a speech. “Nuclear energy is an area where we can demonstrate that the Philippines-US alliance and partnership really works.”

The deal, which still requires US congressional approval, would allow the peaceful transfer of nuclear material, equipment and information in compliance with non-proliferation requirements.

As of the end of 2022, the US had 23 agreements covering 47 countries, the International Atomic Energy Agency and Taiwan.

The Philippines wants to explore nuclear power as a viable alternative baseload power source as it seeks to phase out coal plants to help meet climate goals and boost energy security. The Southeast Asian nation is vulnerable to volatile global oil prices, seasonal blackouts and high electricity prices.

Previous efforts to pursue nuclear power in the Philippines have stalled over safety concerns, but Mr. Marcos has discussed the possibility of reviving a bankrupt nuclear power plant built to address an energy crisis during his father’s rule.

Completed in 1984, two years later, the Bataan Nuclear Power Plant was shut down following the overthrow of Marcos Sr., the Chernobyl nuclear disaster, and allegations of corruption.