Russia extends cooperation agreement on nuclear reactor development

Russia and the Nuclear Energy Agency of the Organization for Economic Cooperation and Development (OECD NEA) have agreed to continue collaboration on nuclear reactor development, they announced Thursday.

The main focus of collaborative efforts between Russia and OECD NEA is to develop improved concepts on nuclear power systems with consideration for radioactive waste management, economic viability, and safety in operation. According to the announcement, this agreement will facilitate growth in the Russian nuclear industry and strengthen its role in global nuclear energy. Other members of this framework agreement include the U.S., China, France, South Korea and Switzerland.

"I believe that the sixth-generation reactors are the future of not only nuclear industry, but also the entire world energy sector in general," Rosatom Director General Sergey Kirienko said. "That is why I believe it is important to continue the international cooperation in this area."

Kirienko signed the agreement on behalf of the Russian government, and Director General of the OECD NEA William Magwood signed on behalf of the international organization.

In June, Russia reached agreements on cooperation efforts with Saudi Arabia. Rosatom, the Russian executive agency on this agreement's implementation, said partnerships with Saudi Arabia could potentially lead to the eventual construction of nuclear power generators and development of related areas in the country.