Page 14 - RusRPTDec22

2.4 Switching to nuclear leaves Russia as a key player in global energy
The world is increasingly turning to nuclear power as a quick and easy way to reduce emissions, but as Russia is a dominate player in both nuclear technology and the supply of uranium the turn to nuclear will not reduce Russia’s clout in the international energy business.
There were 437 operational reactors around the world as of 2021 excluding those suspended, according to the International Atomic Energy Agency. About 10 per cent or 42 reactors outside of Russia were using Soviet-designed VVER technology, with others using designs from countries including the US, Canada, Germany and France. Ukraine has by far the largest number of VVER fleets outside Russia, with all 15 of its operating reactors using the technology, with the Czech Republic next on six.
Similarly, of the 52 reactors currently being built around the world excluding Russia, 21 use VVER. China, India and Turkey have the largest number with 4 each, with countries like Bangladesh, Egypt and Iran also taking in Russian technology.
Russia was also marketing its technology “very aggressively,” as bne IntelliNews reported Russia’s nuclear exports are booming as its technology is state of the art and it also provides financing for the construction. Western companies do not provide financing making it more difficult for government’s to cover the circa $10bn price tag.
For nuclear exporting nations such as the US, South Korea and France to compete with China and Russia, “there is a need for a way of finding how importing countries are able to secure the finance for the deals,” Jonathan Cobb of the World Nuclear Association told the FT.
14 RUSSIA Country Report December 2022 www.intellinews.com