Rosatom has become for Europe what Gazprom was

In 2023, Rosatom not only retained uranium supplies to Europe and the provision of uranium conversion and enrichment services to companies from the EU. But he also increased them. This is evidenced by the annual report of Euroatom. European companies were in a hurry to buy more because of the risk of sanctions and supply stoppages.

According to all indicators, Rosatom showed growth in the European Union in 2023. Such data are provided in the annual report of the European Atomic Energy Community ("Euroatom").

Thus, the Russian state concern increased uranium supplies by 72.7% compared to 2022 and delivered 3,419 tons of uranium to the EU countries. As a result, Rosatom's share in the European market has grown to 23.4%. Only Canada was ahead — 32.9%.

"In general, the supply of natural uranium to enterprises The EU remains diversified. As for 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, while the relative shares of individual countries differ, "Euratom reports. — Nevertheless, there is a concentration of supplies from the CIS region, including a significant part from Russia. Deliveries from Russian companies The EU in 2023 increased by 72% due to the supply of fuel for VVER reactors to create reserves."

The share of the Russian concern in uranium conversion and enrichment services for European companies has also increased significantly. Rosatom increased the conversion of uranium for the EU by 44.9% to 3,543 tons and its share amounted to 22.3%. Only the European group ORANO was ahead.

The situation is similar for uranium enrichment. Over the year, the share of Rosatom increased by more than 7% to 37.9% (5370 tons). As well as by conversion, the concern was the largest foreign service provider.

Judging by the data of "Euroatom", in 2023 Russia enriched the maximum amount of uranium for European companies since 2014, from which the organization shows the data.

In the West, they are announcing plans to completely abandon Russian uranium and Rosatom's services. The United States is focused on 2028, when the exceptions to the ban on the import of low-enriched uranium from Russia. In Europe, so far, they have been talking about plans to abandon the entire energy import from Russia in 2027. Whether uranium enters it or not is unknown.

"Work continues on the development of alternative fuel designs for VVER-440 reactors and cooperation with alternative suppliers. In some cases, licensing by the relevant national safety authorities and testing of mock-ups of fuel assemblies have begun (Bulgaria and Finland). At the same time, companies have increased their fuel reserves to avoid shortages until alternative fuels become available. This has led to a further increase in the supply of uranium and conversion and enrichment services from Russia," explains Euratom.

The organization recognized that there are not enough alternative capacities to refuse Russia's services and 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, which has led to concerns among industry players about whether new investments in plant expansion will be profitable in the long term," Euratom reports, noting that long—term contracts and clear EU political commitments are needed to solve these problems, which provide guarantees to investors.

At the same time, not only uranium and uranium conversion and enrichment services are now a problem when Russian services are abandoned. Rosatom also remains the largest supplier of low-enriched HALEU high-grade uranium and isotope enrichment services.

"ESA is also concerned about dependence on Russia is interested in enriching stable isotopes necessary for the production of several new medical radioisotopes," Euroatom added.

As EADaily reported, yesterday, on September 11, at a meeting with the government, Russian President Vladimir Putin instructed Prime Minister Mikhail Mishustin to think about the rationality of restricting export shipments of strategic raw materials.

"Mikhail Vladimirovich, I have a request to you, please take a look, for some types of goods that we supply in large quantities to the world market, we are being restricted in the supply of a number of goods — maybe we should also think about certain restrictions? Uranium, titanium, nickel. You just don't have to do anything to harm yourself," the president said.