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« Fission Assay Results Encouraging for Upcoming Resource Estimate | Main | Want energy independence? Keep the nuclear option and limit exports »
Monday
Jul142014

Putin Signs Nuclear Energy Deal With Argentina


President Vladimir Putin signed agreements on nuclear energy generation with Argentina on Saturday as part of a Latin American tour aimed at building Russia's influence in the region.

Argentina has been building nuclear-powered electricity plants to revive its nuclear program and reduce its dependence on fossil fuels amid an energy crunch. Putin and President Cristina Fernandez said the Russian atomic energy corporation, Rosatom, would be involved with the construction of units in Argentina's Atucha III nuclear power plant.

"These are very important agreements," said Fernandez, who had been out of the public eye for a week due to a throat infection.

"Argentina is a leader in Latin America in terms of nuclear energy generation," Fernandez said at a joint news conference at the presidential palace. "They reaffirm our bonds of friendship and strategic links."

Argentina has one of the world's largest deposits of shale oil and gas, but only a few companies have made commitments to develop the fields as many fear the government's interventionist energy policies.

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The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

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