16:49 - 17.02.2025

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February 17, Fineko/abc.az. The demand for nuclear power is growing worldwide due to rising energy consumption. At that, Kazakhstan, the largest supplier of uranium, is increasing supplies to Russia and China, reducing the share of Western countries in its exports.

ABC.AZ informs that according to the World Nuclear Association, the demand for uranium could double by 2040. The reason is development of artificial intelligence and data centers that require more and more energy, as well as the gradual abandonment of fossil fuels.

The U.S. and the UK have previously announced their intention to triple the world's nuclear power by 2050. However, uranium mining in Kazakhstan is becoming more orientated towards the East.

French company Orano is already facing difficulties in increasing production in Kazakhstan, as old fields are being depleted and new projects are being transferred to Russia and China.

According to Berenberg analysts, such a shift could lead to higher prices and complicate the search for alternative uranium suppliers for Western countries in the coming years.