This year, the Russian nuclear industry celebrates its 80th anniversary. Rosatom is actively developing cooperation with other countries.Ivan Dybov, Director of Rosatom America Latina, talks about the global nuclear market trends, Rosatom’s key projects in Latin America, and plans for 2025.
The year 2024 was an important milestone for Rosatom and the entire nuclear industry. Our company took a global lead in developing the fourth generation of nuclear technology. In December, we piloted a fuel fabrication/refabrication module for the BREST-OD-300 fast neutron reactor to become the first fully operational unit of an unparalleled new-generation nuclear power production facility.
Also in 2024, Rosatom signed the world’s first export contract for the construction of a small modular reactor (SMR) nuclear power plant. To be built in Uzbekistan, this 330 MW power plant will have six reactors with the capacity of 55 MW each. The first unit is scheduled to go critical in late 2029.
The year also marked the 65th anniversary of Russia’s nuclear icebreaker fleet. New icebreakers ensure year-round navigation on the Northern Sea Route, which is becoming the primary sea lane in Eurasia.
Rosatom retains global leadership in exporting nuclear power plants, holding a market share of over 90%. Currently, 22 power units are under construction in seven countries.
Rosatom pays special attention to its Latin American projects. The key project for the time being is the construction of a nuclear research center, which has reached its final stage.
On September 11, 2024, Uranium One Group (part of Rosatom) and the Bolivian state-run company Yacimientos de Litio Bolivianos (YLB, ‘Bolivian Lithium Deposits’) signed a contract to build a lithium carbonate mining and production facility at the Uyuni salt flat in the Potosí department, Bolivia. We might say that we are taking part in building a new industry in the country and creating highly skilled jobs.
We ship isotope products to Brazil to cover its nuclear medicine needs, holding a sizable share of its national market. We fully met our obligations to supply the Brazilian nuclear utility Eletronuclear with industrial isotopes.
We continue to deliver on the contract for the supply of nuclear fuel products and services to Brazil. Russian companies won an international service contract with Indústrias Nucleares do Brasil (INB) for the enrichment and conversion of uranium supplied from Brazil. The contract is expected to be signed early this year.
The nuclear energy market is closely linked with other sectors of the economy and inevitably prone to external factors and changes. These conditions make it necessary for the market players to promptly adapt to the new reality.
One of the key trends in the global nuclear energy industry is the transition to long-term contracts that are concluded for 10-15 years or a longer period, up to the end of the service life of a nuclear power plant. These contracts provide for the full-range supply of nuclear fuel products instead of shipments of individual components.
Long-term cooperation offers an undisputable advantage: every market player, whether a supplier or a buyer, can efficiently plan their activities for decades ahead. This approach mitigates financial, production and logistics risks, maintaining an optimal balance of interests. Manufacturers can plan investments in advance and flexibly manage their production capacities while buyers are guaranteed stable and reliable supplies.
What is more, long-term contracts contribute to making prices predictable, which is particularly important amid unprecedented growth of global energy prices.
International nuclear energy markets, including Latin America, could significantly benefit from a broader introduction of long-term contracts. This promotes sustainable development of the industry and creates a more predictable and stable business environment.
The countries of the region, such as Brazil, do have the practice of concluding long-term contracts. However, their duration is generally limited to five years, making strategic planning and sustainable development more complicated. Other challenges arise from bureaucratic hurdles, such as lengthy decision-making processes and rigid procurement procedures.
They lead to delivery delays, increased costs and, consequently, lower sector competitiveness while many countries actively seek ways to develop it (and Russia confidently maintains its leadership there). If Brazil fails to remove these hurdles, cost growth in the energy sector may become critical, jeopardizing further progress in the industry.
Rosatom sticks to the principle that nuclear energy should remain outside politics. Our work is transparent and follows the interests of partners and customers worldwide, in strict compliance with national and international laws. Taking into account the long life of nuclear projects, each spanning nearly a century, it is unacceptable to politicize peaceful uses of nuclear energy. Responsible and effective cooperation in the nuclear industry is essential for business reputation and also a cornerstone of global nuclear safety.
2025 will be a landmark year for the Russian nuclear industry as it is going to celebrate its 80th anniversary. This date is remarkable for both Russia and the global nuclear sector in which Rosatom holds key positions. Another reason why this year will be special for us is that we are going to mark the 10th anniversary since Rosatom’s regional center was established in Rio de Janeiro.
In Brazil, we are waiting for the decisions that will guide further development of its nuclear industry, particularly decisions about the completion of Angra 3. This project is a crucial step towards increasing the share of nuclear power in the country’s energy mix and will give impetus to the sector development.
We are actively working on expanding cooperation in nuclear medicine by introducing new isotopes for cancer treatment. Work is underway to organize pilot deliveries of Lu-177, an isotope that can be used in the production of radiopharmaceuticals.
Establishing uranium mining partnerships with private companies in Brazil will be another driver for the industry in 2025. Development of uranium deposits opens vast prospects for the country both nationally and internationally.
We are confident that 2025 will be a year of new achievements and opportunities. With our experience and technological leadership, we can make a substantial contribution to the development of Brazil’s and Latin America’s nuclear industries and are ready for any form of cooperation.
Photo by: Newspaper Strana Rosatom, Rosatom State Corporation, ABEN
