Tuesday, October 27, 2026
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International September 11, 2026

Hodgson and Shmyhal Signed in Calgary. Cameco's Ukraine Book Runs Through 2035

On September 10 Energy Minister Tim Hodgson and Ukraine's Denys Shmyhal signed a joint energy statement in Calgary. Canada added $10 million to the Energy Support Fund, up to $757 million of EBRD gas-purchase guarantees, and restated the Energoatom-Cameco uranium deal through 2035.

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The statement is new. The Cameco contract was already the spine

Canada's Energy Minister Tim Hodgson and Ukraine's First Deputy Prime Minister and Energy Minister Denys Shmyhal signed a joint statement on energy cooperation in Calgary on September 10. The meeting sat alongside President Zelenskyy's visit with Prime Minister Mark Carney.

Canada added $10 million to the Ukraine Energy Support Fund, bringing its total contribution to $100 million. Ottawa also committed loan guarantees of up to $757 million through the European Bank for Reconstruction and Development for emergency gas purchases and strategic fuel reserves ahead of the 2026/2027 heating season. Export Development Canada is putting a $200 million concessional trade-finance envelope against priority projects, including hydropower.

The nuclear paragraph names the existing partnership between Energoatom and Cameco Corporation (TSX: CCO, NYSE: CCJ) on long-term uranium supply and conversion services through 2035. That is a restatement of a commercial book, not a new offtake signed yesterday. The ministers also flagged Zaporizhzhia, IAEA diplomacy, and talk of Canadian LNG supply to Ukraine. LNG cargoes from Kitimat to Ukraine would still need ships, buyers, and a European landing path. None of that was contracted in the Calgary text.

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