According to Acting Chief Executive Officer of JSC "NNEGC "Energoatom" Petro Kotin, the decisions made in 2022-2023 regarding the increase in procurement of uranium and services for its conversion and enrichment, as well as the negotiations conducted at the proper time and the contracts concluded with the international partners of Energoatom – the companies Urenco and CAMECO – currently have a meaningful effect.
"Firstly, we calmly and harmlessly completely abandoned nuclear materials and related services of russian origin.
Secondly, we save about UAH 2.3 billion on the difference in global prices for these products (from the time of procurement to the present day, they have increased by more than a third on average), noted Petro Kotin.
The global resurgence of nuclear generation has fueled unrelenting growth in prices for uranium and its conversion and enrichment services, which are already breaking world records. Therefore, the contracts signed by Energoatom with Urenco and CAMECO guarantee the long-term smooth operation of domestic nuclear generation.
Thus, the U.K. Urenco will supply Energoatom with uranium enrichment services until 2035 with an option to extend the contract until 2043, while the Canadian CAMECO will meet 100% of Energoatom's needs for natural uranium hexafluoride (UF6) during 2024-2035 by supplying it and providing conversion services.
As a reminder, the uranium concentrate produced by the Ukrainian Eastern Mining and Processing Plant (SkhidGZK) is sent in full to CAMECO for conversion into natural uranium hexafluoride for the needs of Energoatom.
