BAKU, Azerbaijan, November 2. Trans-Caspian International Transport Route (TITR) helps to mitigate the risk of the primary route through St. Petersburg being unavailable, the Kazatomprom official told Trend.
The company said it continues to monitor the growing list of sanctions on Russia and the potential impact they could have on the transportation of products through Russian territory.
“To date, there are no restrictions on the Company's activities related to the supply of its products to customers worldwide. Kazatomprom shipped its third quarter volumes via St. Petersburg without any disruptions or logistical/insurance-related issues. However, the Trans-Caspian International Transport Route (TITR), which the Company has successfully used as an alternative route since 2018, helps to mitigate the risk of the primary route being unavailable, for any reason,” the company added.
They noted that Kazatomprom currently has a shipment to western markets in-progress on the TITR; the KAP-owned portion of the shipment has reached the Port of Poti without issue and it is now waiting for additional material to arrive, prior to being loaded onto a vessel for furtherance to its final destination
“As it is the first time the TITR-related jurisdictions are reviewing such arrangements, there is an elevated risk of transportation delays. The shipment that is currently en route to join Kazatomprom’s material waiting at the Port of Poti is sourced from JV Inkai and it has been delayed. There is a risk that the Company’s 2022 guidance for consolidated sales and consolidated revenue could be impacted if that portion of the shipment and/or if future shipments on the TITR in 2022, are delayed,” they said.
Kazatomprom is the largest uranium producer in the world with natural uranium production in proportion to the Company's participatory interest in the amount of about 24% of the total global primary uranium production in 2021.
The group has the largest uranium reserve base in the industry. Kazatomprom, together with subsidiaries, affiliates and joint organizations, is developing 26 deposits combined into 14 uranium-mining enterprises. All uranium mining enterprises are located on the territory of the Republic of Kazakhstan.