Kazakhstan’s state-owned uranium producer Kazatomprom has signed an agreement to supply uranium products to Japanese utility Kansai Electric Power Co., the companies announced Monday.
The agreement will provide uranium for Kansai’s nuclear power plants as Japan continues the gradual restart of its nuclear fleet. The deal was finalized during Kazakh President Kassym-Jomart Tokayev’s visit to Japan from December 18-20 as part of the “Central Asia + Japan” Dialogue.
“This agreement marks a new milestone in our relations with Japan,” said Meirzhan Yussupov, CEO of Kazatomprom, in a press release statement. He added that the cooperation contributes to the sustainability of the Japanese power grid as the country returns to nuclear energy.
Kansai Electric operates seven nuclear reactors across three power stations – Mihama, Takahama, and Ohi. The company has been a partner of Kazatomprom since 2006 through the “APPAK” LLP joint venture in Kazakhstan’s Turkistan region, where Kazatomprom holds 65%, Sumitomo 25%, and Kansai 10%.
The agreement represents an expansion of Kazatomprom’s strategy to develop long-term partnerships and diversify its sales markets. As the world’s largest producer of natural uranium, the Kazakh company supplies fuel for nuclear power generation, which is considered a low-carbon electricity source.
Kansai representatives stated that working with Kazatomprom is central to their strategy for ensuring stable power supply to the Kansai region of Japan.
The companies did not disclose the financial terms or volume of uranium to be supplied under the agreement.