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Rosneft CEO expects global investment growth in nuclear energy

Amid rising consumption, nuclear power generation is booming, which is well illustrated by the price of uranium fuel, which has more than tripled over the past seven years, Sechin noted

SAINT PETERSBURG, June 21. /TASS/. Nuclear power generation is experiencing a renaissance, with investments expected to continue growing worldwide, Rosneft CEO Igor Sechin said during his speech at the St. Petersburg International Economic Forum (SPIEF).

"Investments in the nuclear sector are projected to keep increasing. According to the IEA forecast, by 2050, the installed capacity of nuclear power generation worldwide will grow by nearly 60% to reach 650 GW. I believe this estimate is understated," he said.

Amid rising consumption, nuclear power generation is booming, which is well illustrated by the price of uranium fuel, which has more than tripled over the past seven years, Sechin noted. Over the past five years alone, global annual investments in nuclear energy have increased by 50%, reaching $70 bln last year.

About the forum

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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