MOSCOW, April 19 (UPI) -- Russia's entire nuclear industry will soon be aligned under one state-owned company, further bolstering Moscow's stance as an energy superpower.
President Vladimir Putin has approved creation of Atomenergoprom, a vertically aligned company that will be the sole name of Russia's civilian nuclear program.
Russia has by far the largest reserves of natural gas and is the second largest producer of oil. And while the state's arms stretch farther into European and Asian oil and gas markets -- both as a supplier and operator -- its nuclear industry is making its own headway.
Russia -- as part of the Soviet Union -- and the United States were the first countries in the atomic field, though first for weapons means. While the U.S. industry has slowed drastically over the past few decades, Russia hasn't stopped. The state owns part or all of dozens of nuclear-related firms and their subsidiaries, from nuclear plant construction to operations to mining, enriching and delivering the fuel.
It plans to nearly double its own nuclear electricity output, and is building plants and delivering fuel to numerous countries.
Alexey Grigoriev, head of the uranium extraction and enrichment company Technabsexport, told World Nuclear News -- a service of the World Nuclear Association, the global industry's trade group -- that AEP will be a joint stock company. Moscow will likely not give up majority control of the company, however.
Along with Technabsexport, fellow fuel company TVEL, operator Rosenergoatom, and domestic and foreign nuclear plant builders Atomenergomash and Atomstroyexport will be at the top tiers of the new company.
The new company could start operation by year's end.
