In 2023, Rosatom did not just maintain uranium supplies to Europe and provide uranium conversion and enrichment services to EU companies. It also increased them, as demonstrated by Euroatom’s annual report.
By all indicators, Rosatom showed growth in the European Union in 2023. These data are presented in the annual report of the European Atomic Energy Community (Euroatom).
Thus, the Russian state-owned concern increased uranium supplies by 72.7% compared to 2022 and delivered 3,419 tons of uranium to EU countries. As a result, Rosatom’s share of the European market increased to 23.4%. Only Canada was ahead – 32.9%.
“Overall, supplies of natural uranium to EU companies remain diversified. In terms of the origin of production, the same four major producing countries as in 2022 (Canada, Russia, Kazakhstan and Niger) provided more than 91% of natural uranium supplied to the EU, with the relative shares varying across countries, Euroatom reports. — However, there is a concentration of supplies from the CIS region, including a significant part from Russia. Supplies from Russia to EU companies increased by 72% in 2023 due to the supply of fuel for VVER reactors to build up reserves.”
The Russian consortium’s share in uranium conversion and enrichment services for European companies has also increased significantly. Rosatom increased uranium conversion for the EU by 44.9% to 3,543 tonnes, and its share was 22.3%. Only the European group ORANO was ahead.
The situation is similar with regard to uranium enrichment. Over the year, Rosatom’s share increased by more than 7% to 37.9% (5,370 tonnes). As for conversion, the concern was the largest foreign provider of the service.
According to Euroatom data, Russia will enrich the maximum amount of uranium for European companies in 2023 since 2014, for which the organization provides data.
In the West, plans are being announced to completely abandon Russian uranium services and Rosatom. In the United States, the target is 2028, when exceptions to the ban on importing low-enriched uranium from Russia will no longer apply. In Europe, there was still talk of plans to abandon all energy imports from Russia by 2027. It is not known whether it contains uranium or not.
“Work on the development of alternative fuel designs for the VVER-440 reactors and cooperation with alternative suppliers continues. In some cases, licensing by the relevant national safety authorities and testing of fuel assembly models (Bulgaria and Finland) has been initiated. At the same time, companies have increased their fuel reserves to avoid shortages until alternative fuels become available. This led to a further increase in uranium supplies and conversion and enrichment services from Russia,” Euroatom explains.
The organisation admitted that alternative capabilities to counter Russian services are not sufficient and that it will take several years to create additional ones. At the same time, Russia is a profitable supplier for the EU.
“Historically, Russia has gained market share by offering competitive prices, raising concerns among industry players about whether new investments in plant expansions will be profitable in the long term,” Euratom said, noting that long-term contracts are needed to resolve these issues and clear EU political commitments to provide reassurance to investors.
At the same time, it is not only uranium and uranium conversion and enrichment services that are now an issue when Russian services are rejected. Rosatom also remains the largest provider of isotope and low-enriched uranium enrichment services to HALEU.
“ESA is also concerned about the reliance on Russia for the enrichment of stable isotopes needed to produce several new medical radioisotopes,” – added in Euroatom.
As reported EADaily Yesterday, September 11, at a meeting with the government, the President of Russia Vladimir Putin instructed the Prime Minister Mikhail Mishustin Let us consider the rationality of limiting export shipments of strategic raw materials.
“Mikhail Vladimirovich, I have a request for you: please look at some types of goods that we supply in large quantities to the world market, the supply of a number of goods to us is being limited; perhaps we should also think about certain restrictions? Uranium, titanium, nickel. Just don’t do anything that will harm you.” – said the president.
