December 22, 2015

Centrus and Tenex Extend Supply Contract

By ExchangeMonitor
Centrus Energy and Tenex announced Tuesday that they have agreed to extend a long-term supply contract for Russian low-enriched uranium through 2026.

Signed in 2011, the agreement includes Centrus’ commitment to purchase 17 million separative work units from Tenex between 2016 and 2022. According to a Centrus press release, the extension defers delivery on some quantities to between 2023 and 2026 while adding the option to purchase additional quantities in that same span.

The agreement to broker Russian uranium with Tenex currently represents Centrus’ main source of revenue.


“Completing this contract revision has been a central priority since the day I arrived at Centrus,” Centrus President and CEO Daniel Poneman said in a press release. “The updated agreement reflects the changing fuel market and extends our supply arrangement for a decade, further strengthening the partnership between our two companies – a partnership that has played an indispensable role in U.S.-Russia nuclear cooperation for more than two decades.”


“We highly value cooperation with our long-standing partner, Centrus, and have strengthened our long-term relations with this arrangement,” Tenex General Director Lyudmila Zalimskaya said.

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