On 19 March 2023, President of SE NNEGC «Energoatom» Petro Kotin and Cameco President and CEO Tim Gitzel signed bilateral contracts in London to expand the ongoing cooperation between the companies. The signing ceremony was held in the presence of the Minister of Energy of Ukraine German Galushchenko, who joined the ceremony online, and Vadym Prystaiko, Ambassador of Ukraine to the United Kingdom.
Under the first agreement running from 2024 through 2035, Cameco will provide 100% of Energoatom’ s needs for natural uranium hexafluoride (UF6) by supplying it along with uranium conversion services for reactors of Rivne, Khmelnytskyi and South Ukraine NPPs. A relevant option is also envisaged for Zaporizhzhia nuclear power plant after its complete de-occupation.
Another agreement provides that Energoatom shall sell to Canada a full quantity of uranium, which is mined by the domestic Mining and Processing Plant (SkhidGZK) in Ukraine. Cameco will provide the conversion of Ukrainian uranium.
German Galushchenko reiterated the importance of such cooperation for the entire nuclear sector in Ukraine: «These agreements are very important. We appreciate your confidence and will stand shoulder to shoulder with you».
During the signing ceremony, Tim Gitzel stated that all Canada and Cameco have been admiring the courage of Ukraine and would always support our state.
«We are grateful and glad to be the partner of Energoatom and Ukraine in nuclear sector. Our teams have cooperated efficiently in order to get to the signing of these arrangements and agree to collaborate at least until 2035. This is one of the largest and most important contracts for Cameco. Our company will help Ukraine retain its energy independence, provide your country with electricity by supplying our nuclear fuel», he said.
According to President of SE NNEGC «Energoatom» Petro Kotin, the executed agreements are extremely important to Ukraine, as from the beginning of the large-scale invasion of russia, the Company terminated all contracts for supply of nuclear fuel from the rf. He also added that taking into account the situation in the global market and the existing shortage of conversion capabilities, signing the relevant contracts would guarantee the stability in supplying the nuclear fuels.
«Cooperation with Cameco is strategic and essential for Energoatom, because we, together with Westinghouse, continue adopting the Western standards. We are grateful to Cameco for bilateral cooperation and its effective support in implementing our ambitious plans and everyday tasks, and for its continuous humanitarian aid», noted Petro Kotin.
He also stated that signing of these two contracts would pave the way to the execution of the third one providing for the specific scopes of uranium product supply. That document will be drafted and signed within the next month.
He also stressed: «Development of the national nuclear energy sector is possible only through the cooperation with our international partners. So, nowadays, amidst the russia’s barbarous attacks also on our energy infrastructure, strengthening the cooperation with Cameco is extremely critical for attaining the energy independence of Ukraine».
«This is an important stage in the development and the history of Ukraine. All of us are very delighted that these contracts have been signed, and look forward to the future», Mr.Prystaiko added.
For your information:
Cameco is one of the largest global producers of natural uranium and providers of its conversion services. According to the 2021 results, the share of the Company in the global uranium production made up 9%.
