Russia to build nuclear reactors in Hungary

Russia to build nuclear reactors in Hungary

 

Hungarian Foreign Minister Peter Szijjarto has announced that the Russian nuclear power company Rosatom will begin construction on two new nuclear reactors in Hungary.

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Mr. Szijjarto stated that the 2014 agreement agreed between Russia and the EU state aims to expand the current Paks nuclear reactor.

Despite serious delays, the project, awarded without a tender to Rosatom, has often been cited as evidence of warm ties between Hungarian Prime Minister Viktor Orban and Russian President Vladimir Putin.

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“This is a big step, an important milestone. In this manner, we will ensure Hungary’s energy security in the long term and protect Hungarians from wild swings in energy prices,” he said.

He added that the nuclear reactors could be ready for service by 2030.

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Report says the controversial €12.5bn (£10.6bn; $12.4bn) project is largely financed by Russia.

Meanwhile, the Paks site currently generates 40% of Hungary’s electricity supply.

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With the addition of two reactors, the nuclear power station’s present capacity of four Soviet-built reactors will more than double.

However, in the wake of the war in Ukraine, many EU states have been trying to lessen their dependence on Russian supplies of energy. But its nuclear industry has not been subjected to EU sanctions yet.

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Report says moves to isolate and sanction Russia’s oil and gas exports have not been unconditionally supported by Hungary.

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