16.01.2007 // Press service of TVEL Corporation/ Press service of Energoatom

During a working meeting in Moscow Jan 12 TVEL and Energoatom signed contract documents on the cost and volume of nuclear fuel supplies to Ukrainian NPPs in 2007

Representatives of TVEL Corporation and Energoatom NNPGC (Ukraine) held a working meeting in Moscow on Jan 12. The Russian delegation was led by TVEL Acting President Anton Badenkov, the Ukrainian one — by Energoatom President Andrey Derkach.

During the meeting the sides signed contract documents on the cost and volume of nuclear fuel supplies to Ukrainian NPPs in 2007

Derkach pointed out that Energoatom is satisfied with the work of the Russian producers and «regards TVEL as its key strategic partner and long-term nuclear fuel supplier.» Badenkov noted that «the cost of supplies in 2007 will be based on „The Fresh Nuclear Fuel Price Policy“ for Ukrainian NPPs signed by TVEL and Energoatom in early 2006. According to this policy, the cost of the supplies depends on the tendencies on the world markets of nuclear services and materials.» Badenkov especially stressed that «the cost of nuclear fuel supplies to Ukraine is based on a complex approach and the long-term cooperation between the companies.» 

The sides also discussed the prospects of further cooperation in nuclear fuel production cycle, particularly, the project to create nuclear fuel component production capacities in Ukraine in 2008.

Derkach said that the Ukrainian side was satisfied with the results of the meeting. «Today’s agreements are a good basis for our long-term cooperation. We have agreed that in 2007 the companies will work out and coordinate terms of cooperation after 2010 and will consider applying „price bands“ when signing the contract for 2008,» he said. Those bands will allow to damp the consequences of possible speculative uranium price growth in 2007.

The cooperation between TVEL and Energoatom started in 1996 when TVEL won a tender for fuel supplies for Ukrainian NPPs. In the past 10 years the cooperation has grown into strategic partnership on the nuclear fuel production market. Presently, TVEL fuels all 15 units of Ukrainian NPPs.

The Moscow negotiations were part of the visit of Ukrainian nuclear power engineers to Russia. Derkach met with the head of Rosatom Sergey Kiriyenko. The sides discussed the prospects of the cooperation between the newly formed Atomenergoprom state corporation and the Ukratomprom state corporation. Derkach also met with Director General of Atomenergomash Kirill Komarov. The sides discussed the possibilities of cooperation in the sphere of energy machine building.
 
Note:

Energoatom is energy generating company of Ukraine, operating all the country’s NPPs: Zaporizhia, Khmelnitsky, Rovno and South-Ukrainian. Ukraine is the 5th in the world in the share of nuclear power production in total energy balance (46.9% in 2006).

TVEL Corporation is one of the world leading nuclear fuel producers. It supplies fuel to 17% of world reactors as well as to 30 research reactors in various countries and ship reactors in Russia.