Nuclear power plants in Europe are increasingly refusing to supply Russian uranium

Kazakhstan's state-owned uranium mining company Kazatomprom is preparing to expand production as demand from nuclear power plants in Eastern Europe seeks to reduce its dependence on Russia.

Source. Bloomberg

Some Eastern European nuclear power plants that previously received enriched uranium from Russia want to sign contracts starting in 2025, Kazatomprom CEO Yerzhan Mukanov said.

According to him, geopolitical uncertainty is changing the flow of nuclear fuel, prompting some power producers to diversify their supplies.

This year, Kazatomprom plans to maintain production at the same level (about 22,000 tons), but has begun preparing additional capacity to increase production to be able to meet the growth in demand, Mukanov said.

In addition, Kazatomprom plans to open a third route for uranium exports this year. The route through one of the Chinese ports will be added to deliveries via Russia and the Caspian Sea to the Black Sea, Mukanov said. According to him, China also needs uranium for its own needs, as it plans to build new nuclear power plants.

Kazakhstan is trying to establish energy exports bypassing Russia. The day before, Kazakh President Kassym-Jomart Tokayev called "diversification of energy supplies to world markets" a priority goal for the country. This year, the first batch of Kazakh oil was shipped through Azerbaijan via the Trans-Caspian route.

In addition to Eastern European countries, the United States is trying to reduce its dependence on Rosatom. Last year, the Department of Energy prioritized the development of its own uranium enrichment facilities, which are to start operating by 2025. Currently, there is only one such plant in the United States.

"We need to make our supply chain independent – at least from Russia," said Energy Secretary Jennifer Granholm.

In the United States, Russia supplies almost a quarter of the fuel needed for 93 operating reactors. European nuclear power plants, including those in France, Hungary, and Slovenia, also depend on Rosatom. Therefore, the US and EU have not yet imposed sanctions against Rosatom.

Kazakhstan accounts for more than 40% of the world's uranium production.

Background. As reported, Energoatom and Canada's CAMECO signed an agreement to ensure a stable supply of nuclear fuel.