Russia and Kazakhstan Sign Nuclear Power Plant Deal Amid Putin Visit
Overview of the Nuclear Power Plant Agreement
By Vladimir Soldatkin
Putin's Visit and Deal Signing
MOSCOW, May 26 (Reuters) - Russian President Vladimir Putin will oversee the signing of a deal outlining parameters for the construction of a nuclear power plant in Kazakhstan when he visits the country this week, the Kremlin said on Tuesday.
Kazakhstan's Nuclear Power History and Future Plans
Kazakhstan, an oil- and gas-rich nation of 20.5 million people, has not had any nuclear power generation capacity since 1999, when the BN-350 reactor on the shores of the Caspian Sea was decommissioned. The country voted in a referendum in 2024 in favour of constructing new plants and plans to have 2.4 gigawatts of nuclear capacity by 2035.
Energy and Trade Discussions
Putin will also discuss an increase in transhipment of Russian oil to China via Kazakhstan, Kremlin aide Yury Ushakov told reporters.
Key Agreements to Be Signed During Putin Visit
KEY AGREEMENTS TO BE SIGNED DURING PUTIN VISIT
Oil Export Arrangements
Last year, Russia agreed to raise its oil exports to China via Kazakhstan through the Atasu-Alashankou pipeline by 2.5 million tons per year to 12.5 million metric tons. However, the increase has not yet materialised, according to industry sources.
Kazakhstan's Energy Mix and International Partnerships
Kazakhstan is one of the world's biggest uranium producers but currently relies mostly on coal for its electricity, supplemented by some hydroelectricity and a growing renewable energy sector. China National Nuclear Corporation (CNNC) also has plans to build a nuclear plant there.
Financing and Project Details
"Key agreements will be signed during (Putin's) visit on the main parameters for building a nuclear power plant and on financing the project through a Russian state export loan," Ushakov said.
Russian Financial Support
Kazakhstan has said Russia would provide 85% of the financing for the plant, which is expected to be commissioned in 2035-2036.
(Reporting by Vladimir Soldatkin; Editing by Gus Trompiz and David Holmes)
