In the first half of 2008 IAEA may approve the basic principles of the work of the nuclear fuel bank at Angarsk IUEC

19.09.2007 // Press service of Nuclear Power Industry

In the first half of 2008 IAEA may approve the basic principles of the work of the nuclear fuel bank at Angarsk International Uranium Enrichment Center

In the first half of 2008 the Board of Governors of the International Atomic Energy Agency may approve the basic principles of the work of the nuclear fuel bank at the International Uranium Enrichment Center (Angarsk, Russia), the head of Rosatom Sergey Kiriyenko told journalists after his meeting with IAEA Director General Mohamed ElBaradei.

ElBaradei approved of Russia’s initiative to create an IAEA-managed guaranteed nuclear fuel reserve in its territory. The preparatory work may be done in half a year so in the first half of 2008 ElBaradei could submit the project for the Board’s consideration. In 2008 the Board is to meet in March and June.

Kiriyenko pointed out that today Russia is actively discussing projects for creating a global nuclear energy infrastructure, but Russia is not just discussing, it is acting. Particularly, it has already set up an international uranium enrichment center and has destroyed 313 tons of highly-enriched uranium, which is equivalent to 12,000 nuclear warheads. “The same is for the fuel bank – we are ready to act,” Kiriyenko said.

He said that IAEA experts will come to Russia in mid Oct in order to discuss this project. Special attention will be given to the possibility of fuel supplies from the bank. “We should observe all rules lest such a big amount of uranium might burst up the market,” Kiriyenko said.

He noted that the International Uranium Enrichment Center will provide services ordered beforehand, while the bank will provide fuel in case of urgency.