JSC Energoatom and French Orano (until 2018 – Areva) announced the signing of a major long-term commercial agreement on the provision of nuclear fuel enrichment services for Ukrainian NPPs until 2040.

"This was confirmed today by the signing of a joint statement by acting Energoatom chairman of the board Petro Kotin and Orano CEO Nicolas Maes in the presence of Energy Minister Herman Haluschenko and Special Representative of the President of France Pierre Heilbronn for Assistance and Recovery of Ukraine," Energoatom reported on Thursday.

This contract guarantees Energoatom a reliable and diversified supply of enrichment services to provide fuel for Ukraine's nuclear power plants, the report said.

"We are proud to support Energoatom in its development to strengthen Ukraine's energy independence. This agreement reflects our commitment to supporting our client and thus contributing to Europe's energy security," said Nicolas Maes.

For his part, Kotin noted that given Ukraine's plans to expand nuclear capacity, the nuclear power generation company's need for uranium enrichment services will only grow in the future.

"Uranium enrichment is one of the important stages in the process of manufacturing nuclear fuel. The signed agreement allows our state to confidently plan a stable bright future, relying on the operation of nuclear power plants," he noted.