Nuclear fuels producer Orano does not expect any impact from EU-US deal
Under the deal announced last Sunday, the EU agreed to purchase nuclear energy products along with U.S. liquefied natural gas and oil worth in total $750 billion over the next three years.
"We have looked at the material, and for all the deals that have been signed so far between the U.S. and other regions of the world, and isotopes, uranium, enriched uranium are exempted," Maes said.
However, he said the deal's provision for exports of nuclear fuel from the U.S. to Europe was surprising, given that the U.S. is an importer, rather than exporter of the fuel it needs for its nuclear power plants.
"The U.S. market is structurally importing nuclear material and not exporting," Maes said.
He also said Orano's plans to expand the company's nuclear enrichment facilities in Oak Ridge, Tennessee, should not be affected by either the trade deal or U.S. President Donald Trump's executive order deregulating the nuclear sector.
Trump signed an executive order In May to reduce regulations and fast-track new licences for nuclear reactors and power plants and reinvigorate uranium production and enrichment in the country.
Maes said that Orano will maintain its nuclear safety standards but the order may result in easier dialogue between the nuclear safety authority and the utilities during the permitting process.
He repeated an earlier comment that a final investment decision on the project is expected in 2027.
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