TENEX and IAEA Agree on Transit for LEU Bank

Rosatom’s TENEX and IAEA have concluded a contract for transportation of low-enriched uranium (LEU).

The document was signed by Oleg Kozin, Deputy CEO for Logistics at TENEX, and Mark Bassett, IAEA LEU Bank Executive, on September 17 at the 62nd IAEA General Conference.

According to the contract, TENEX will provide a full range of logistics services for transportation of low-enriched uranium and equipment through Russian territory to and from the IAEA LEU Bank in Kazakhstan.

For reference:

The IAEA Low Enriched Uranium Bank is a physical reserve of up to 90 tons of LEU created in the premises of the Ulba Metallurgical Plant (Kazakhstan) as part of the IAEA’s efforts to provide nuclear fuel backup to countries in case the existing arrangements for LEU purchase are disrupted due to exceptional circumstances. The operations of the IAEA LEU Bank are meant to maintain the stability of the commercial uranium market. IAEA member states are allowed to purchase LEU from the IAEA LEU Bank only if they have signed a comprehensive safeguards agreement with the IAEA and fulfill its provisions.

TENEX is a 100% Rosatom subsidiary. The company is a key global supplier of nuclear fuel cycle products and satisfies a significant share of enriched uranium demand from Western-designed nuclear reactors. Since 2015, TENEX has been acting as an industry integrator for international sales of back-end products and services (e.g. spent nuclear fuel and radioactive waste management, nuclear decommissioning).