State Secretary in the Ministry of Energy: "We are discussing a contract on the supply of uranium between KazAtomProm and Nuclearelectrica"

The authorities in Romania and Kazakhstan have begun discussions for a ten-year contract on the supply of uranium between KazAtomProm and Nuclearelectrica, according to the State Secretary in the Ministry of Energy, Casian Niţulescu, writes Agerpres.

His statements were made in the context of participating, on April 28-29, 2025, at the head of the delegation of the Ministry of Energy at the meeting of the Kazakhstan-Romania Working Group on Energy, held in Astana. Casian Niţulescu wrote on a social network:

"I had constructive discussions with the Minister of Energy, Erlan Akkenzhenov, the Deputy Minister of Energy, Ilyas Bakytzhan, the Deputy Minister of Foreign Affairs, Roman Vassilenko, and the President of the Agency for Nuclear Development, Almassadam Satkaliyev. I also had important meetings with the management of KazAtomProm. We discussed strengthening cooperation in the energy sector, security of crude oil supply, fiscal policies with an impact on companies with Kazakh capital in Romania, and possible new commercial projects. A key point: opening discussions for a ten-year contract on the supply of uranium between KazAtomProm and Nuclearelectrica".

The Secretary of State emphasized Romania's interest in the transfer of technology regarding beryllium processing, noting that KazAtomProm invited the Romanian side to visit the metallurgical plant in Ulba in July.

"An important step for strengthening Romanian-Kazakh energy cooperation", the Energy Ministry official pointed out, quoted by Agerpres.

For this year, Nuclearelectrica has budgeted total revenues of 5.7 billion lei, 11.5% more than last year, and a net profit of 1.68 billion lei, 1.6% lower than in 2024. The company estimates investment expenses worth 3.4 billion lei, of which two billion lei are allocated for the re-equipment of Unit 1 in Cernavodă. Financing will be made from the company's own sources and external loans.

This year, the energy producer will distribute 815 million lei, equivalent to half of the profit made last year. Nuclearelectrica contributes over 18% of nuclear energy to total energy production and 33% to total CO2-free energy production in our country.

The Romanian State, through the Ministry of Energy, owns 82.5% of the company, whose stock market valuation amounts to 12.1 billion lei.