Kazakhstan’s state-owned uranium miner Kazatomprom is preparing to increase its production as Europe reduces its dependence on Russia for nuclear fuel, Bloomberg reports. Nuclear plants in Eastern Europe that had previously obtained their uranium from Russia are seeking contracts starting 2025, Kazatomprom CEO Yerzhan Mukanov told Bloomberg. Kazatomprom intends to open a third export route in 2023, shipping uranium through a Chinese port to meet increased demand from China, Mukanov said. China aims to have “uninterrupted long-term supplies,” he said, as Beijing is looking to obtain atomic fuel for nuclear power plants in the pipeline and shore up reserves.

India gives green hydrogen plants more time to set up shop: India’s government has expanded the eligibility of its previously announced waiver on transmission fees for green hydrogen producers to include plants commissioned before 2031, Reuters reports, citing a government source. The decision — a six-year extension from the previous 2025 cut off for eligibility — was made to allow more time for the commissioning of large-scale hydrogen and ammonia projects which typically take three to four years to construct. The decision is also expected to cut the cost of green hydrogen by a fifth. India aims to produce 5 mn tons of green hydrogen annually by 2030 as well as reduce the cost of its production from the current USD 4-5 per kg to USD 1-1.50 per kg.

The US ratifies WTO agreement to cut subsidies contributing to overfishing: The US has ratified a subsidy cut meant to reduce unsustainable fishing practices, making it the first major fishing country to take such a step in adherence with a WTO agreement signed last year, Reuters reports. Over 100 trade ministers reached an agreement to limit subsidies for illegal and unregulated fishing last June. Two-thirds of the 168 WTO member states need to ratify the agreement for the agreement to come into force, but only a few smaller countries have done so. WTO Director-General Ngozi Okonjo-Iweala hopes to have the agreement ratified before the next WTO meeting in 2024, she told Reuters. Countries have until 2026 to reach the two-thirds goal before the agreement expires, Bloomberg said.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• General Motors will invest in lithium technology startup EnergyX through a USD 50 mn series B round of financing under its push to secure long-term supplies for the critical components of EV batteries. (Reuters | CNBC)
• Advocacy groups are suing the US Federal Emergency Management Agency for failing to integrate renewable energy sources into an agency-funded project to build a more resilient power grid for Puerto Rico that can withstand the impact of hurricanes. (Reuters)