• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 57 mins Shale Oil will it self destruct?
  • 19 hours Berkeley becomes first U.S. city to ban natural gas in new homes
  • 9 hours Today in Energy
  • 22 mins Iran Captures British Tanker sailing through Straits of Hormuz
  • 22 mins Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 5 hours Drone For Drone = War: What is next in the U.S. - Iran the Gulf Episode
  • 1 day Mnuchin Says No Change To U.S. Dollar Policy ‘As of Now’
  • 1 day Populist, But Good: Elizabeth Warren Takes Aim at Private-Equity Funds
  • 2 days Migration From Eastern Europe Raises German Population To Record High
  • 2 days Washington Post hit piece attacking oil, Christians and Trump
  • 1 day Why Natural Gas is Natural
  • 2 days Excellent Choice: Germany's Von der Leyen Secures Powerful EU Executive Top Job
  • 20 hours LA Solar Power/Storage Contract
Oil Rises On U.S. Shut-Ins, Impressive Chinese Data

Oil Rises On U.S. Shut-Ins, Impressive Chinese Data

Despite lingering concerns over a…

Oil Falls Back As Iran Risk Factor Fades

Oil Falls Back As Iran Risk Factor Fades

Oil prices started the week…

Russian Nuclear Fuel Giant Making A Move In U.S. Markets

Rosatom nuclear fuel

Far from the specific paranoia of the Cold War era, talk now is that Russia’s Rosatom nuclear fuel giant may soon end up supplying 10 percent of U.S. nuclear fuel needs.

In partnership with General Electric Co. (GE), Russian state-owned Rosatom is expanding its nuclear fuel supply to the US, hoping to gain a 10-percent market share—adding to the 20 percent of the US enriched uranium market it already controls.

Last week, Rosatom’s TVEL signed an agreement with U.S. Global Nuclear Fuel-Americas, a subsidiary of GE-Hitachi, on cooperation in licensing, marketing and fabrication of fuel for U.S. Pressurized Water Reactors (PWRs).

Related: U.S. Banks Down 2% On Bad Energy Loans

According to Russian news agencies, Russia currently holds 17 percent of the global nuclear power plant fuel market. That means it has covered all of its own supply for 76 reactors, along with the reactors in 14 more countries. By 2019-2020, Rosatom hopes to be supply nuclear fuel to the U.S..

Speaking at the Atomexpo-2016 on Monday, where it signed US$10 billion in deals, Rosatom TVEL Fuel Company vice-president Oleg Grigoryev said: “We expect the share of our deliveries to be more than 10% of the US market for this kind of fuel.”

TVEL’s exports already exceed US$1 billion annually, according to Russia’s Tass news agency.

The move to gain this extra nuclear fuel market share still requires approval from the U.S. Nuclear Regulatory Commission.

Related: Iranian Oil Is Disguising A Significant Decline In Global Production

According to Bloomberg, Rosatom has been supplying low-enriched uranium to the U.S .since 1987.

Rosatom is apparently not targeted by U.S. sanctions.

In 1992, according to Bloomberg, an anti-dumpling investigation prompted trade controls that affected how much low-enriched uranium Rosatom could supply to the U.S.. From 2002 to 2011, Rosatom had to stop commercial supplies to the U.S. For now, the Russian giant has long-term uranium delivery contracts with Centrus Energy Corp. ,NextEra Energy Resources and Exelon Generation Company LLC.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play