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Vietnam and Russia Sign Nuclear and Energy Cooperation Agreements
The agreement sets the framework for two Russian-designed reactors with 2,400 MW capacity to boost Vietnam's energy supply amid global fuel disruptions, officials said.
- On Monday, Prime Minister Pham Minh Chinh oversaw Russia and Vietnam signing an intergovernmental agreement to construct the Ninh Thuan 1 nuclear power plant, establishing a legal framework for two Russian-designed reactors totaling 2,400 megawatts.
- Vietnam initially agreed to build the Ninh Thuan 1 station in 2010, but suspended the project in 2016 over safety and budget concerns; Russia remains the primary partner after Japan exited the plans last December.
- Fuel costs for petrol and diesel in Vietnam soared 50% and 70% since late February, prompting Chinh to secure oil and gas agreements and a preliminary liquefied natural gas deal with Novatek.
- Rosatom head Alexey Likhachev stated the agreement forms the "foundation for a long-term industrial partnership, which will strengthen Vietnam's energy independence and open up new opportunities for economic growth."
- Neither country disclosed specific construction timelines or financial costs for the Ninh Thuan 1 project, leaving future implementation dependent on undisclosed terms and raising questions about project feasibility.
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Vietnam stressed that agreement is "for peaceful purposes", qualifying it as a "symbolic project for friendship" between both nations. Russia now highlights economic growth opportunities.
Vietnam plans to buy Russian reactors to survive the fuel crisis While the whole world is trying to distance itself from the aggressor, Hanoi is betting on Moscow. This was reported by RBC-Ukraine with reference to a Bloomberg publication. Read also: After drone strikes, Russia suspended oil exports through Primorsk and Ust-Luga So, against the background of the global fuel crisis caused by the conflict in the Middle East, Vietnam officially agr…
Vietnam, Russia sign nuclear power deal
HANOI — Vietnam, Russia signed an agreement on the construction of the Southeast Asian nation’s first nuclear power plant as Hanoi moves to bolster energy security amid Middle East disruptions that are disrupting global fuel supplies.
This state-of-the-art technological infrastructure will reach a total installed capacity of 2,400 megawatts, ensuring a stable and high-powered electricity supply for the development of the Asian country.
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