Russia Wants to Invest in JV for Bulgaria Nuclear Plant Belene

Business » ENERGY | December 11, 2009, Friday // 18:29| Views: | Comments: 2
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Bulgaria: Russia Wants to Invest in JV for Bulgaria Nuclear Plant Belene Russia is interested in joining the joint-stock company for building the Belene Nuclear Power Plant. Photo by BGNES

Russia is ready to invest in the joint-stock company for the creation of Bulgaria’s second nuclear power plant at Belene.

This was made clear Friday at a news conference in Sofia by Russian Energy Minister Sergei Shmatko, who participated in the 13th meeting of the Intergovernmental Bulgarian-Russian Commission for Economic, Scientific and Technical Cooperation.

“The Russian Federation was ready to provide a credit for the execution of the Belene NPP project but this is a hard thing to do now in the state of economic crisis. In the present situation, it seems rather hard to secure state funding. In spite of that, we are interested in the realization of this project, and are having a dialogue in order to find just corporate solution that would guarantee the construction of the nuclear plant, with the Russian Federation considering the opportunities for financial aid for the project,” Shmatko declared.

He has confirmed the interest of the Russian side in becoming a part of the joint-venture for constructing the Belene NPP>

Bulgaria’s Minister of Economy, Energy, and Tourism, Traicho Traikov, stated that the Bulgarian government want to turn the Belene nuclear plant project into one which “can happen.”

“The interest of our nation is to attract additional investors to the project, and the interest of the Russian side is to make the project happen, and therefore the participation in a joint-stock company is an option which is not ruled out,” Traikov said.

He explained that through the “appropriate structuring of the Belene deal in one or several phases” it could reach a form in which it corresponded with the vision of the Bulgarian government.

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Tags: Belene NPP, Nuclear Power Plant, Russia, Sergei Shmatko, Traicho Traikov, energy projects
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» To the forumComments (2)
#2
FIGMENT - 12 Dec 2009 // 17:08:15

I don't trust Russian design for nukes. I would rather have France who have long and successful expertise with nukes.

Also Russia can't fund anything these days. They can't afford themselves, they are broke and it is getting worse, now that the oil bubble has burst. Russia's budget is based on $80/barrel oil. At this time oil is $70/barrel and it is expected to go down as demand decreases and supply increases.

Supply will increase from the OPEC countries, they are having a shortage of cash to bankroll that monstrosity they are building in Dubai. There is not one OPEC country that doesn't own DUBAI debt in some form or another and they are all in deep doody. The Arab's oil bubble is about to burst and not a moment too soon. The arrogant, insolent vermin should be cut down to size.

China is consuming much less oil, as they can't sell to the US all the crap they have been manufacturing.

#1
simonaki - 12 Dec 2009 // 16:35:49

Call me a sceptic but since when has Russia been interested in projects as large
and important as this just to 'make the project happen'??? Is the Belene project a
trade off for doubling the capacity of the South Stream Pipeline?? if so where is
the energy from Belene going, to the Bulgarian people?.

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