Irina Filatova, energy analyst of BrokerCreditService IC

– Rosatom’s cooperation with Siemens will benefit the whole of Russia’s energy sector

The working group set up for making necessary preparations for large-scale strategic cooperation between Rosatom State Nuclear Energy Corporation and Siemens has started its work today, Feb 4, 2009. The agreement for establishing such cooperation was reached during an enlarged meeting of the Board of Siemens in Moscow, Feb 3, 2009.

Rosatom’s cooperation with Siemens will benefit the whole of Russia’s energy sector. It will give the industry beneficial contracts. Today, imported equipment is growing in price while the demand for it is not falling due to the investment programs that were coordinated and financed before the crisis.

This agreement is oriented towards not only Russia but also the foreign energy market. It will certainly boost the development of Russia’s energy sector. The rest depends on specific contracts and political situation. The preliminary assessment is positive, now, we have to wait for specific decisions.