We are now in the cycle of extending the Metsamor nuclear power plant’s operating period until 2036, after which another phase; it is assumed, will be possible to extend the Metsamor nuclear power plant’s operation for another ten years. Prime Minister Nikol Pashinyan announced this during Wednesday’s question-and-answer session with the government in the National Assembly of Armenia—and addressing the question of when the Metsamor nuclear plant will finally be decommissioned, under what conditions, and whether a new nuclear power plant will be built in Armenia before then.
“That is, it was 2036 and 2046. During that time, we [i.e. Armenia] must make decisions. We are discussing the matter of having a new nuclear reactor with Russia, the United States, France, China, South Korea, and we are transparently telling all our partners about it. This is a crucial, strategically important decision, and when making a decision, we must be convinced which proposal is most in line with the interests of the Republic of Armenia,” Pashinyan added.
“Incidentally, we have a task of studying the nuclear energy market well and correctly in the long term. There are estimates that the currently known reserves of nuclear fuel are for 70 years. This means that there is a need to calculate what one kilowatt hour of nuclear energy could cost in 40 years, because here too there is a question of economic feasibility and payback possibilities. Of course, now it is also being seriously discussed and there is already experience in using spent nuclear fuel a second time. Of course, there are much more promising options, since uranium or plutonium are not used in large amounts; there is also a high probability that eventually there will be technology to bring them from space,” the Armenian PM noted.
“The most important thing here is the price as to how much it will cost. The nuclear power plant that will be built must have an economic, financial scheme in place so that the invested money returns. Now there are partners who are rushing us, saying a decision must be made. With all due respect, we need to understand all these nuances, because if we assume we invested 5 billion, 4 billion, 6 billion [US dollars], built a nuclear power plant and the price of uranium increased four to five times, ten times, how will this affect the economic repurchase or economic efficiency of our project? These are very serious issues, and we need to discuss all serious issues with all the details,” Nikol Pashinyan concluded.