OREANDA-NEWS. October 5, 2009. Rosatom State Nuclear Energy Corporation has signed USD 3bln worth contracts for supply of uranium to Japan and France, reports the press service of Atomenergoprom.

“Rosatom has concluded long-term contracts for the supply of low enriched uranium to Japan and the EU (France) for a total sum of over USD 3bln. By the end of this year the Corporation may conclude more contracts worth up to USD 2bln,” says the source.

Techsnabexport OJSC (TENEX) is subsidiary of Atomenergoprom OJSC, which, in its turn, is part of Rosatom State Nuclear Energy Corporation. The direct contracts between TENEX and Japanese nuclear operators are the result of Rosatom’s successful negotiations with the Japan Atomic Energy Agency and the signing of an agreement for cooperation in the field of peaceful use of nuclear energy. 

The press service of TENEX reports that the amendment to the Suspension Agreement signed by Rosatom State Atomic Energy Corporation and the US Department of Commerce in 2008 concerning Russian uranium products suppliers enabled JSC TENEX (100% affiliate of JSC Atomenergoprom) to enter into direct contracts with North American companies to deliver uranium enrichment services for 3m USD in total.

Therefore in accordance with the Amendment to the Russia-USA Agreement, JSC TENEX entered into six first long-term business contracts in 2009 to supply low enriched uranium (LEU) with the following utilities: AMEREN, Pacific Gas & Energy, Constellation, and Exelon. These contracts are evidence of high reputation of Russian uranium products at the US market, and demonstrate practically the high potential of long term trading cooperation in front end between US customers and JSC TENEX. It is therefore a breakthrough of Russian high-technology products to the largest nuclear market worldwide.

A source from TENEX said on Friday that in the next few months the company is planning to sign 1–2 more contracts for the supply of high-tech uranium enrichment services to US power companies.