US-Russian uranium agreement takes effect

3 January 2012

The supply agreement signed in March 2011 between Russia’s Techsnabexport (TENEX) and United States Enrichment Corporation, a wholly owned subsidiary of USEC Inc. took effect on 21 December. The supply agreement is a multi-year contract for the supply of low enriched uranium (LEU) from 2013-2022.

“We are excited to continue our fruitful relationship with TENEX, which has been built on the foundation of the successful Megatons to Megawatt programme,” said Phil Sewell, USEC senior vice president of American Centrifuge and Russian HEU.

Under the terms of its agreement with TENEX, the supply of LEU to USEC will begin in 2013 and ramp up until it reaches a level in 2015 that is approximately one-half the level currently supplied by TENEX to USEC under the Megatons to Megawatts programme, which is scheduled to expire at the end of 2013. Unlike the Megatons to Megawatts programme, the quantities supplied under the new contract will come from Russia’s commercial enrichment activities rather than from downblending of excess Russian weapons material.

Deliveries under the agreement are expected to continue through 2022.

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