Over the past three decades, US and European utilities became hooked on supplies of cheap enriched uranium from Moscow, which account for more than a fifth of the fuel needed to power their reactor fleets.
Russia’s full-scale invasion of Ukraine in 2022 forced Washington to review its heavy reliance on Moscow. The US is devising a multibillion-dollar investment strategy designed to reboot its domestic industry, which was ravaged by a collapse in demand following the Fukushima accident in 2011.
Two years later the US Department of Energy is awarding chunky nuclear contracts, Congress is poised to ban Russian imports of enriched uranium and the UK, Canada, Japan and France are working to boost their capacity to produce nuclear fuel. […]
It’s so important that it wouldn’t be a surprise to see another wave of LNG projects being built after the current wave in order to reduce the possibility of undersupply — even as climate campaigners step up their fight against fossil fuels. (Shotaro Tani)
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