TENEX Completes Settlements under Contracts Made under HEU-LEU Program
OREANDA-NEWS. TENEX has completed all settlements under the contracts made in pursuance of the HEU-LEU Program - the agreement between the governments of the Russian Federation and the United States on the disposition of highly-enriched uranium (HEU) extracted from nuclear weapons, dated 18 February 1993 (also known as the HEU-LEU Agreement).
The final payment was transferred from the United States Enrichment Corporation (USEC) in March this year.
Under the contract entered into by TENEX and USEC as part of the HEU-LEU Program, approximately 14,500 tons of low-enriched uranium (LEU), generated through downblending 500 tons of HEU, were exported to the United States for use as fuel by US nuclear power stations.
TENEX fully discharged its LEU supply obligations late last year as the final shipment of LEU was dispatched to the United States on 14 November 2013.
The overall foreign currency revenues generated from this project - unprecedented in scale, complexity, and duration - have reached over USD 13 billion.
As TENEX's General Director Lyudmila Zalimskaya noted, the successful implementation of the HEU-LEU Program laid a solid groundwork for further development of Russia-US cooperation in the nuclear field. “During almost two decades TENEX did not commit a single breach of the timelines or terms for LEU supplies, while unfailingly fulfilling almost half of the annual needs of US nuclear power stations for uranium enrichment services,” Ms Zalimskaya said and stressed that, “I'm convinced that cooperation with our American partners - based, as before, on mutual trust and faultless performance of all commitments - will continue into the future”.