US to pay $1 billion for Russian nuclear fuel
26 May, 2009, 23:14
A Russian firm has signed a groundbreaking one billion dollar contract to supply US nuclear power stations with uranium fuel. Russia already supplies 23 per cent of the fuel used by US plants.
In previous years, under a program called Megatons to Megawatts, uranium from around 14,000 old Soviet nuclear warheads had been turned into fuel sold to US power stations.
Tekhsnabexport marketing executive, Vadim Mikerin, told The Associated Press that state-run Tekhsnabexport, or Tenex, will supply US markets with nuclear fuel enriched from raw uranium for the first time.
Tenex has signed contracts to provide enriched uranium fuel to San Francisco’s Pacific Gas & Electric Company, to Missouri-based AmerenUE, and to Texas-based Luminant, Sergei Novikov said, spokesman for the state nuclear agency Rosatom.
The US companies are part of a group called Fuelco.
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