Belarus, Russia ink documents on restructuring BelNPP loan, terms of payment for oil supplies
<p> MINSK, Jul 14 - PrimePress. Minsk and Moscow have signed three documents, two of which concern changes in the terms of the Russian loan for the construction of Belarus’ nuclear power plant in Astravyets. The third document regulates the terms of Russian oil supplies to Minsk, said Prime Minister of Belarus Roman Golovchenko on July 14. </p> <p> </p> <p> “Today, there have been signed ... two protocols to the intergovernmental agreement on nuclear power plant construction and a separate agreement governing the conditions of energy supplies, particularly oil, to the Republic of Belarus,” said Golovchenko in Moscow after talks with his Russian counterpart Mikhail Mishustin. A video featuring Golovchenko's statement was posted on Facebook by the press service of the Council of Ministers of Belarus, as reported by Prime. </p> <p> </p> <p> According to the Belarusian Prime Minister, all these agreements are in the interests of Belarus and are “very profitable” for the country. “I can say that on the construction of the nuclear power plant alone the country has save hundreds of millions of dollars, which is a Russian decision that is very beneficial to our country,” said Golovchenko. </p> <p> </p> <p> Asked to clarify the terms of Russian oil supply to Minsk, the Prime Minister referred to the question as a commercial matter. He would not disclose the details, only saying that it is a technical agreement, which regulates the payment of energy supplies to Belarus. </p> <p> </p> <p> As previously reported, adjustments to the loan terms suggest that a fixed interest rate of 3.3% per annum will be applied instead of the current mixed interest rate on the loan. The date on which Belarus will begin paying off the principal debt on the loan is postponed from April 1, 2021 to April 1, 2023. Experts estimated the benefit for Belarus from the announced change in lending terms at $600 million. </p> <p> </p> <p> Russia provided $10 billion in a state loan for the construction of the Belarusian NPP. The actual cost of the plant is expected to be lower since Russian rubles may be used as the payment currency. Russian general contractor Atomstroyexport JSC (Rosatom’s division) estimates the cost of the NPP at around $6 billion. As of April 1, 2020, Belarus used $4.33 billion for the construction. </p> <p> </p> <p> Belarus’ first nuclear power plant in Ostrovets (a town in the Grodno Region also referred to as Astravyets) will have two units with a combined capacity of up to 2,400 megawatts, which are slated to be launched in 2019 and 2020, respectively. The Belarusian nuclear station’s design stems from the AES-2006 design developed by the St Petersburg-based institute Atomenergoproject, which is also the general contractor of the Belarusian project. End </p>
2020-07-15
Primepress
MINSK, Jul 14 - PrimePress. Minsk and Moscow have signed three documents, two of which concern changes in the terms of the Russian loan for the construction of Belarus’ nuclear power plant in Astravyets. The third document regulates the terms of Russian oil supplies to Minsk, said Prime Minister of Belarus Roman Golovchenko on July 14.
“Today, there have been signed ... two protocols to the intergovernmental agreement on nuclear power plant construction and a separate agreement governing the conditions of energy supplies, particularly oil, to the Republic of Belarus,” said Golovchenko in Moscow after talks with his Russian counterpart Mikhail Mishustin. A video featuring Golovchenko's statement was posted on Facebook by the press service of the Council of Ministers of Belarus, as reported by Prime.
According to the Belarusian Prime Minister, all these agreements are in the interests of Belarus and are “very profitable” for the country. “I can say that on the construction of the nuclear power plant alone the country has save hundreds of millions of dollars, which is a Russian decision that is very beneficial to our country,” said Golovchenko.
Asked to clarify the terms of Russian oil supply to Minsk, the Prime Minister referred to the question as a commercial matter. He would not disclose the details, only saying that it is a technical agreement, which regulates the payment of energy supplies to Belarus.
As previously reported, adjustments to the loan terms suggest that a fixed interest rate of 3.3% per annum will be applied instead of the current mixed interest rate on the loan. The date on which Belarus will begin paying off the principal debt on the loan is postponed from April 1, 2021 to April 1, 2023. Experts estimated the benefit for Belarus from the announced change in lending terms at $600 million.
Russia provided $10 billion in a state loan for the construction of the Belarusian NPP. The actual cost of the plant is expected to be lower since Russian rubles may be used as the payment currency. Russian general contractor Atomstroyexport JSC (Rosatom’s division) estimates the cost of the NPP at around $6 billion. As of April 1, 2020, Belarus used $4.33 billion for the construction.
Belarus’ first nuclear power plant in Ostrovets (a town in the Grodno Region also referred to as Astravyets) will have two units with a combined capacity of up to 2,400 megawatts, which are slated to be launched in 2019 and 2020, respectively. The Belarusian nuclear station’s design stems from the AES-2006 design developed by the St Petersburg-based institute Atomenergoproject, which is also the general contractor of the Belarusian project. End