The forecast released Tuesday is something of a climb-down from earlier, more optimistic projections.
The company, which currently controls 17 percent of the world’s market of fuel for nuclear power plants, previously said it intended to gain a 30 percent share, said the agency.
Lavrenyuk said the adjustment was due to "a change in global nuclear power plant construction dynamics."
In 2008, there were 436 reactors in the world, with a total installed capacity of 370 GW. By 2030, their number is expected to increase to 660, RIA Novosti said.
TVEL supplies fuel to 76 power generating reactors and 30 research reactors worldwide, the agency said.