Sechin spoke about the revival of nuclear energy

The importance of nuclear energy, which is a natural complement to fossil fuel-based energy, is actively growing today, said Igor Sechin, head of Rosneft, speaking at an energy panel at the XXVIII St. Petersburg International Economic Forum.

"Against the background of rising consumption, all types of generation, including nuclear, are experiencing a rebirth. This is well illustrated by the price of uranium fuel, which has more than tripled over the past seven years," Igor Sechin said.

The head of Rosneft noted that over the past 5 years, annual global investments in nuclear energy have increased by 50% and reached $70 billion last year. "China is becoming one of the leaders in nuclear energy today. Over the past ten years, the installed capacity of nuclear generation in this country has increased fivefold and approached 60 GW. In the coming years, China plans to complete the construction of 32 more reactors," Sechin said.

He noted that Russia has many years of experience in building nuclear power plants. At the same time, Sechin noted, the availability of a resource base is of particular importance. Today, only seven countries, including the Russian Federation, control more than 90% of the world's uranium fuel production and about 70% of the world's uranium reserves.

"Today, Russia is the only country in the world with expertise in the entire technological chain of the nuclear fuel cycle, from uranium mining to nuclear fuel utilization. In total, 80 nuclear reactors have been built using Russian technology in the world," he said.

The head of Rosneft expects further growth in investments in the nuclear sector: new technologies, such as small modular reactors, are attracting increased investor attention today. In addition, special attention should be paid to their safety and security from terrorist threats.