Vice Prime Minister Novak: Russia's share in nuclear fuel to make up 24 percent by 2030

Russia's share in global nuclear market to grow to 20 percent

By 2030, Russia's share in the world market for low-capacity nuclear power plants will amount to 20 percent, and to 24 percent — in the nuclear fuel market.

According to Russia's Deputy Prime Minister Alexander Novak, it is low-power reactors ranging from 5 to 100 megawatts that will be in demand most in the future. They will be able to increase the availability of nuclear energy to power remote settlements.

Nuclear energy is reliable and environmentally friendly energy that meets decarbonisation goals for most countries of the world, Novak said. The Russian government is convinced that it is nuclear energy that can meet the growing global demand for electricity.

"This is a clean, reliable, safe, affordable and, in fact, an inexhaustible source of energy,” Novak emphasized.

Russia's Federal Agency for Atomic Power, Rosatom, has the technologies that can ensure the endless use of reactor spent fuel.

Natural gas and nuclear power shall be viewed as green sources of power. Therefore, in order to prevent another energy crisis, Europe should:

  • revisit the practice of long-term gas supply contracts;
  • ensure the launch of Nord Stream 2 gas pipeline system.

In addition to the economic efficiency of the project, natural gas supplies are environmentally friendly due to minimum emissions.

On February 2, the European Commission recognised nuclear energy as a clean source of energy. Atom, like gas, should contribute to the transition to a carbon-free economy in the world. Thus, the authorities gave a green light to new investments in nuclear power plants until 2045. Investments in gas projects can be made until 2030.

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