22 Sep 2009 14:54

HEU-LEU deal provided $8.5 bln to Russian budget since 1995 - Atomenergoprom

MOSCOW. Sept 22 (Interfax) - The HEU-LEU contract with the U.S., under which Russia reprocesses weapons-grade uranium to levels suitable for civilian use for subsequent delivery to the U.S., has provided more than $8.5 billion to the Russian budget since 1995, Atomenergoprom reported.

The HEU-LEU contract is now its the final stage.

Since the first shipment of low-enriched uranium on May 31, 1995 and running up through September 22, 2009, Russia has supplied U.S. nuclear power plants with about 11,000 tonnes of LEU, manufactured with HEU from Russian nuclear warheads.

Under the agreement, the U.S. supplies Russia with the so-called natural component - uranium - used to dilute the weapons-grade materials. Over the life of the contract Russian has received natural uranium worth approximately $2.7 billion.

The HEU-LEU contract, also known as the Megatons to Megawatts Program, is scheduled to expire in 2013. In that time Russia plans to reprocess 500 tonnes of weapons-grade uranium. The executive agents for the agreement are Tekhsnabexport, a 100% Atomenergoprom subsidiary, and the U.S. Enrichment Corporation (USEC).