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Rosatom agreed with South Korea on the supply of enriched uranium

JSC Techsnabexport and the South Korean company KEPCO Nuclear Fuel (KEPCO NF, a nuclear fuel manufacturer) have entered into a Material Account Agreement, which sets out the conditions for the physical supply of Russian enriched uranium to the Republic of Korea and subsequent book-transfer operations with it, the TENEX press service reports. ... The agreement was signed in New York during the World Nuclear Fuel Market international conference on June 3, 2014.

JSC Techsnabexport has opened material accounts at all North American and Western European nuclear fuel fabrication enterprises. In 2013, a basis was created for the development of a system of material accounts in Russia: in June, an agreement on a material account was concluded with NAC Kazatomprom JSC, which determined the conditions for the physical supply of natural uranium from Kazakhstan to Russian conversion enterprises. KEPCO NF became the first company in the Asia-Pacific region with which Techsnabexport entered into such an agreement.

"The agreement will allow not only to optimize the scheme of interaction with our South Korean counterparty, but also to increase flexibility in working with common customers, which undoubtedly helps to strengthen the competitiveness of Russian uranium products," said Director General of JSC Techsnabexport Lyudmila Zalimskaya upon completion of the signing ceremony material account agreements.

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