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Cameco Agrees to New Deal With Ukraine’s Nuclear Energy Utility

Feb. 8, 2023 , By Stephen Nakrosis

Cameco Corp. said it agreed to terms with SE NNEGC Energoatom, the Ukrainian state-owned nuclear energy utility, to provide natural uranium hexafluoride, or UF(6), through 2035.

“Key commercial terms, such as pricing mechanism, volume and tenor, have been agreed to, but the contract is subject to finalization, which is anticipated in the first quarter of 2023,” Cameco said.

The deal, which runs from 2024 to 2035, will see all deliveries in the form of UF(6). “The contract will contain a required degree of flexibility, given present circumstances in Ukraine,” Cameco said.

The agreement will see Cameco supply 100% of Energoatom’s UF(6) requirements for the nine nuclear reactors at the Rivne, Khmelnytskyy and South Ukraine nuclear power plants. The deal also has an option for Cameco to supply six reactors at the Zaporizhzhya nuclear power plant, which is currently under Russian control, should it return to Energoatom’s operation, the companies said.


February 9, 2023 - Posted by | marketing, Ukraine, USA

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