International Atomic Energy Agency and the Russian Federation
have signed Sept. 17 an implementing agreement on the
transportation of low enriched uranium (LEU) and equipment
necessary for the functioning of the IAEA’s LEU Bank in Kazakhstan,
RIA Novosti reported.
The agreement has been signed by Oleg Kozin, Deputy General
Director for Logistics of Techsnabexport JSC, and Mark Bassett,
IAEA LEU Bank Project Executive.
The signing has taken place on the sidelines of the IAEA General
conference, which is held in Vienna on September 17-21.
The low enriched uranium is the starting material for the
production of fuel for nuclear power plants. The IAEA LEU Bank is
one of the mechanisms to ensure the guaranteed supply of nuclear
fuel to different countries in case of violation of the existing
mechanisms of such supplies. This reserve, in fact, will become an
inviolable stock, which will be in demand only in the event of a
crisis in the global uranium market.
The bank is located on the territory of Ulba Metallurgical Plant
in Ust-Kamenogorsk city in the north-east Kazakhstan. The building
of the bank was opened in August 2018.
In accordance with the previously signed agreement, the IAEA
will bear the costs of acquisition, delivery, and maintenance of
low enriched uranium. It will also bear the costs of importing and
exporting low-enriched uranium and the costs of payment of taxes,
duties and charges.
In turn, Kazakhstan will bear the costs associated with the
direct storage of IAEA’s low-enriched uranium, including the
payment of electricity and heating supply fees, necessary office
space rental fees and costs of maintenance of the personnel
provided by Kazakhstan; the costs associated with the displacement
of the bank within Kazakhstan for the country’s own needs.
