ABSTRACT

The various types of nuclear reactors all have one thing in common, and that is that they generate heat which must be controlled, and the failure to compensate and correct for this heat can be the cause of a major disaster. On 11 March 2011 Japan suffered a magnitude 9 earthquake which was followed in short order by an unprecedentedly severe tsunami, which together caused widespread devastation across large parts of Japan and resulted in the loss of 15,391 lives, with an additional 8,171 missing. This combination of earthquake and tsunami also affected several of Japan’s nuclear power facilities: Tokai Daini, Higashi Dori, Onagawa and TEPCO’s Fukushima Daiichi and Daini. The one which is most urgent at the start of any Nuclear Power Project has to do with the determination of risk and its management, the type of contracts to use and a fair allocation for risk between the participants.