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Russia and China pushing to create their economic nuclear empires

Russia on an international offensive to sell its nuclear plants, Vladimir Putin’s government vies with China to become a superpower in the field  MOSCOW — Russia is stepping up its overseas sales of nuclear power plants, with state-run nuclear energy company Rosatom agreeing in July to cooperate in building a plant in the Central Asian country of Uzbekistan and reaching an accord with China to build a plant in that country.

Russia accounts for 67% of the world’s nuclear plant deals currently in development. By 2030, Rosatom aims to increase its overseas sales to two-thirds of total sales, from 50% at currently. Vladimir Putin’s government is looking to expand Russian influence through nuclear diplomacy, vying with China — which is promoting its own nuclear plants — for the status of nuclear energy superpower.

“We hope that a lot of other countries will become our partners, and as they say, ‘nuclear newcomers,'” Rosatom Chief Executive Alexey Likhachev told Prime Minister Dmitry Medvedev at a meeting in early July…….

During a visit by Putin to China in June, Rosatom entered into a framework agreement to cooperate in nuclear plant construction, including four reactors in Jiangsu and Liaoning provinces.

Russia intends to make nuclear power plants a major revenue earner alongside exports of crude oil and natural gas. Rosatom’s annual business report for 2016 showed it was involved in nuclear plant projects in more than 10 countries, including China, Bangladesh and India. The company had $133.4 billion of overseas orders, up 21% from a year earlier. It targets $150 billion to $200 billion in orders in 2030…….

Russia’s strength in the field is the all-out support of the government, and its ability to take on all aspects of a nuclear energy project. The Putin government attaches much importance to nuclear plants, seeing them as a globally competitive, technology-intensive industry with an important role to play in revitalizing Russia’s domestic industry. Putin himself has successfully pitched Russian nuclear plants to foreign leaders during international summits.

Russian nuclear plants also boast price competitiveness, with the government providing loans to finance the high costs. Not only does Russia build the plant, but it supplies the fuel, operates and maintains the reactors, and disposes of the used fuel. This makes a deal with Russia attractive for countries that want to build their first nuclear plant, but which lack the operational know-how…….

China has made it clear that its policy is to expand overseas nuclear plant deals by building on the technology of Russia, France and other countries that have been at the forefront of nuclear plant development. …….https://asia.nikkei.com/Business/Energy/Russia-on-an-international-offensive-to-sell-its-nuclear-plants

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August 13, 2018 - Posted by | China, marketing, politics international, Russia

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