The Energoatom national nuclear power generating company has agreed to conclude a 12-year agreement with Cameco (Canada), one of the largest uranium producers in the world, for the supply of uranium hexafluoride.
This is stated in the message of Energoatom, Ukrainian News Agency reports.
“Energoatom and Cameco agreed on commercial conditions for the supply by 2035 of natural uranium hexafluoride, which will be used in the production of nuclear fuel for Ukrainian nuclear power plants. The companies reached agreements to conclude a 12-year agreement, which will be valid from 2024 to 2035. Therefore, Cameco will provide 100% of Energoatom's uranium hexafluoride needs (in particular uranium and conversion services) for the reactors of Rivne, Khmelnytskyi and South Ukrainian NPPі during the term of the contract," the statement said.
President of Energoatom Petro Kotin emphasized that such cooperation will guarantee a stable supply of nuclear fuel to the company.
At the same time, he noted that key commercial terms have been agreed, but the contract itself is still subject to final approval.
The contract will also provide for the possibility of Cameco providing natural uranium hexafluoride needs for the reactors of the Zaporizhzhia NPP, as soon as control of the nuclear plant is returned to its legal operator.
It is noted that at the end of 2021, the volume of uranium production by Cameco amounted to 9% of its global production.
Cameco is now one of the world's largest producers of natural uranium and a service provider for its conversion.
As Ukrainian News Agency earlier reported, Energoatom agreed with Urenco Group (UK) to supply enriched uranium from 2026.
In April 2022, Energoatom refused to purchase uranium concentrate from Russia.
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