OREANDA-NEWS. November 01, 2010. In Washington (the USA, Columbia District) there was an official opening of TENAM Corp. office, a 100% affiliated company of Tekhsnabexport OJSC (TENEX), the leading supplier of Russian nuclear fuel cycle (NFC) products.

TENAM is the fifth in succession affiliated company of Tekhsnabexport abroad, among which there are Internexco GmbH (Frankfurt), TENEX-Korea Co. (Seoul), TENEX-Japan Co. (Tokyo) operating for many years and recently established Tradewill Limited (London). The principal line of TENAM Corp. activity will be to support and expand TENEX core business in the Americas. First of all, TENAM Corp. activity is to contribute to conclusion of direct contracts between TENEX and American energy companies as well as new business development in the USA in the field of NFC. TENAM will also provide a wide range of NFC products distribution and marketing services to consumers in other countries of the Americas.

A representative delegation of Tekhsnabexport OJSC headed by its General Director А.А. Grigoryev arrived at the US office opening. Heads of the largest American energy companies and other Tekhsnabexport’s partners took part in the ceremony.

Addressing the audience, А.А.Grigoryev emphasized that TENAM was the first Rosatom State Corporation associated company in the Americas. That’s why it should be viewed not only as a tool for expanding the business of the parent company (TENEX) but as a kind of “trade mission” of the Russian nuclear sector in the region.

“The US and other countries’ growing interest in the nuclear power industry as a cost effective and environmentally sound source of energy capable of ensuring sustained development, imposes great responsibility on international uranium products suppliers for sufficient supplies of fuel to the operating and future NPPs. Russian nuclear enterprises with their enormous technological and resource potential are ready to make a worthwhile contribution to solution of this problem both at traditional and future markets of nuclear materials and technologies. The major objective of TENAM Corporation will be to render assistance in execution of this intention”, he noted.

In February of 2008 Rosatom State Corporation and the US Department of Commerce (DOC) signed an amendment to the Russian-American Agreement on Suspension of Antidumping Investigation (ASAI), created the necessary legal framework for direct commercial supplies of enriched uranium product (EUP) directly to American energy companies on certain conditions starting with 2011. So, the first the legal preconditions for efficient substitution of low-enriched uranium from high-enriched uranium with commercial product after expiration the HEU- LEU Agreement are created.

As a result, TENEX has already signed 11 long-term contracts with 9 American energy companies for EUP supplies for an overall amount of approximately USD 5 bln and is going to build a portfolio of its contracts with the US uranium products consumers.