During a meeting in Washington on July 21 2009 representatives of TENEX (Techsnabexport OJSC, 100% subsidiary of Atomenergoprom OJSC) and Constellation Energy Nuclear Group (CENG) signed a long-term contract for the supply of enriched uranium to the United States. CENG operates five reactors in the states of Maryland and New York for Constellation Energy (CEG). The contract is supposed to meet part of CENG’s demand for nuclear energy in 2015–2025.

This is the sixth contract Tenex has signed with US power companies since May 2009. The first two contracts have already been signed by the US Department of Energy.

‘This is an outstanding event for Tenex and Russia’s nuclear power industry as this contract has reaffirmed the high reputation of the Russian uranium production and the successful implementation of the Amendment to the Agreement Suspending the Antidumping Investigation on Uranium from the Russian Federation, adopted by Rosatom State Nuclear Energy Corporation and the US Department of State in Feb 2008 and giving free and legal access to Russian nuclear fuel products and services on the US market,’ says Director General of TENEX Aleksey Grigoryev.

Notes

Constellation Energy (NYSE: CEG), headquartered in Baltimore, Maryland, USA, generates, trades, supplies, and distributes energy. The company operates over 35 power plants in 11 states (mainly Maryland, Pennsylvania, New York, West Virginia, and California) under its operating company Constellation Commodities Group and/or Constellation Generation Group. Constellation Energy, a FORTUNE 125 company with 2007 revenues of $21 billion, is the nation’s largest competitive supplier of electricity to large commercial and industrial customers and the nation’s largest wholesale power seller.

Constellation NewEnergy, a wholly owned subsidiary of Constellation Energy, is a leading competitive supplier of electricity, natural gas and energy-related services to commercial, industrial and institutional customers throughout North America. Constellation NewEnergy serves more than 19,000 commercial, industrial and institutional customers throughout 31 states and three Canadian provinces representing nearly 14,000 megawatts of peak load and more than 354 billion cubic feet (1.00×1010 m3) of annual natural gas consumption.

Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 83 generating units located throughout the United States, totaling approximately 9,000 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in central Maryland.

TENEX (JSC «Techsnabexport») is Joint Stock Company with 100 per cent shares held by the JSC «Atomenergoprom» — integrated company in the civilian sector of Russian nuclear industry. For 45 years it has carried out faultless activities at the world market, management and highly skilled employees. Tenex is the world’s largest exporter of products and services of the Russian nuclear fuel cycle with a substantial share in the industry’s total foreign trade turnover. It delivers Russian uranium products to meet reactor requirements of NPP’s in the USA — 40 per cent, Western Europe -23 per cent, Asian and Pacific Region -16 per cent. Tenex is Executive Agent under Russian-US government-to-government Agreement on deliveries to the USA of low-enriched uranium downblended from highly enriched uranium extracted from dismantled warheads (HEU-LEU Agreement). The Company operates in the high-tech sector and making investments in core facilities in the nuclear industry and machine building manufacturing high-tech equipment and components for Russian isotope separation plants. Tenex is dynamically developing Company playing a leading role in creating a competitive environment, establishing market place mechanisms and mastering new markets.