Energy

With 22 countries pledging to triple global nuclear energy production by 2050 at the COP28 climate meeting in Dubai, sincere prospects for growth in global nuclear energy market is on the table. Nonetheless, these 22 countries largely represent ones that have minimal ties with Russia’s nuclear exports or are seeking to decouple themselves from a current dependency. 

Many other countries are considering the option of nuclear energy, and several will turn to Russia’s state-owned nuclear energy company, Rosatom, to build their new reactors. Since assuming power, Russian President Vladimir Putin has developed Russia’s nuclear industry exports as a key piece of its energy and geopolitical portfolio. 

One country in particular has embraced a partnership with Rosatom: Egypt. In 2015, Russia and Egypt concluded an intergovernmental agreement that led Rosatom to build a $30-billion nuclear power plant near the Mediterranean coastal town of El Dabaa, about 170 kilometers west of Alexandria. With four Russian-designed, 1.2-gigawatt, VVER reactor units, the El Dabaa nuclear power plant is expected to generate more than 10 percent of total electricity production in Egypt and provide a consistent baseload power source for 20 million people.