TENEX, Korean KHNP agree on enriched uranium supplies through port in Far East
MOSCOW. March 22 (Interfax) - OJSC Techsnabexport (TENEX) and Korea Hydro & Nuclear Power Co (KHNP) (the monopoly operator for South Korea's nuclear power plants) have agreed to use the Vostok transport and logistics complex, to be created in Russia's Far East, for enriched uranium product supplies.
In a press release, TENEX said that agreement on the possibility of using the Far Eastern port was reached during a meeting held within the framework of the Nuclear Industry Summit currently taking place in South Korea.
As reported, a test delivery of nuclear materials through a Russian port (presumably the Vostok port) in the Far East should be made this year.
TENEX currently uses the Port of St. Petersburg to export nuclear materials.
The establishment of a logistics complex in the Far East will reduce the time it takes to transport uranium products to countries in the Asia Pacific region by 50%-60% compared to the current route.
The Asia Pacific region accounts for over 20% of Russian uranium product exports. TENEX generated 3.7 billion rubles in revenue from supplies to South Korea last year.
TENEX is a 100% subsidiary of OJSC Atomenergoprom, which is in turn part of the State Nuclear Energy Company Rosatom. TENEX exports nuclear materials and offers uranium enrichment services, operating under the brand Tenex on global markets.
KHNP is the monopoly operator for South Korea's NPP and is the world's fifth largest nuclear energy supplier.