Kazakhstan’s national nuclear company, Kazatomprom, has signed a memorandum of understanding with Slovenské elektrárne a.s. (SEAS), Slovakia’s largest electricity producer, paving the way for future uranium exports to the Central European country.
According to a company statement, the memorandum outlines the potential supply of natural uranium concentrate and, eventually, uranium dioxide (UO₂), to fuel Slovakia’s nuclear reactors. The agreement also sets the stage for identifying additional areas of long-term cooperation between the two energy firms.
SEAS operates Slovakia’s two nuclear power plants, Bohunice and Mochovce, which collectively run five VVER-440 reactors. The company generates over 70% of Slovakia’s electricity. A controlling 66% stake in SEAS is held by Slovak Power Holding, with the remaining 34% owned by the Slovak government.
“With the signing of this memorandum, we are taking an important step towards strengthening cooperation with our European partners,” said Meirzhan Yusupov, Chairman of the Board of Kazatomprom. “Slovakia is one of the countries where nuclear energy plays a key role in ensuring a sustainable energy supply. We hope this agreement lays the foundation for strong and mutually beneficial relations.”
Branislav Stricek, CEO and Chairman of SEAS, emphasized the importance of diversifying nuclear fuel sources and expressed confidence in the long-term potential of partnering with the world’s largest uranium producer.
Kazatomprom maintained its position as the leading global producer of natural uranium in 2024, accounting for 21% of total output, up from 20% in 2023. The company’s net profit reached $2.1 billion in 2024, marking a 95% increase year-on-year. Kazakh uranium is currently exported to markets across China, Southeast Asia, Europe, and the Americas.
This new agreement with SEAS follows several recent deals with European energy providers. In February 2025, Kazatomprom signed its first uranium supply contract with Swiss firms Axpo Power AG and Kernkraftwerk Leibstadt AG to fuel the Beznau and Leibstadt nuclear power plants. In April, The Times of Central Asia, reported that the company had also entered into a similar agreement with Czech energy giant ČEZ.
