Foreign expansion – January 2012

According to Czech media (15 November 2012), Russian state nuclear power corporation Rosatom may acquire a 49 per cent interest in the JV Nuclear Energy Company of Slovakia from Czech energy company ČEZ. The other partner in the JV is Slovakia’s JAVYS.

The JV is building a new power unit of the Bohunice Nuclear Power Plant project located in Slovakia.  The construction contract is worth an estimated GBP 2.4 billion. Rosatom also supplies reactors for two units being built at Slovakia’s Mochovce Nuclear Power Plant.

According to the Russian business daily Kommersant (2 November 2012), Gazprom has broken into the European electricity market through Serbia’s NIS, which is controlled by the gas and energy concern. NIS is considering l participation in two projects relating to the construction of gas heat power plants in Serbia, firstly the modernisation of a plant in Novi Sad, which is currently owned by the state. NIS is interested in at least a 50 per cent interest. It may acquire the interest with a partner – Slovakia’s GGE.

In addition, NIS is considering the construction of a heat power plant in the city of Pančevo once again potentially in partnership with GGE.

These projects, if they proceed, with finally provide Gazprom with access to the European electricity market. It had sought to participate in a global electricity partnership with Germany’s RWE back in 2011, but these plans have so far not come to fruition.