Speeches & Interviews

Grits: NPP project makes Belarus a potential energy exporter

MINSK, 27 July (BelTA) - Belarus’ nuclear power plant (NPP) project will turn the country into a potential energy exporter, Georgy Grits, Professor at the Institute of Continuing Education of the Belarusian State University, Deputy Chairman of the Belarusian Scientific and Industrial Association, told an online video briefing on the National Press Center website on 26 July, BelTA has learnt.

“This project is quite promising for the country in the medium term. In fact, Belarus turns into a potential energy exporter,” Georgy Grits underlined.

According to the expert, the NPP project will generate a multiplicative effect to Belarus’ economy. Currently, Belarus is hugely dependent on Russia’s gas and oil. It is advisable to switch to cheaper energy resources to enhance energy safety and competitiveness of the real economy. Nuclear energy is the cheapest source of energy so far, the scholar noted.

“If we commission two nuclear power units worth 2,400 MW, we will save about 5 billion cubic meters of gas. Belarus needs 22 billion cubic meters of gas. In fact we will be able to consume less gas. We could also retransmit the gas and benefit from the increased transit,” Georgy Grits said.

The expert also spoke on the $10 billion government export credit that Russia allocated to Belarus for the NPP construction project. Some $6-6.5 billion of the amount will be spent on the nuclear power units and $3 billion on the infrastructure, Georgy Grits said. According to the Russian party, Belarusian contractors will tap into about 50% of the $10 billion, the expert underscored.

Georgy Grits called investments into the NPP project quite a good deal despite the fact that, in line with the business plan, they will pay off in 20 years. “Twenty years is a standard payoff period for the energy industry,” the expert noted.

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