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Address from the Chairman of the Board


I would like to highlight the unprecedented nature of the HEU-LEU Programme

Agreement between the Government of the United States of America and the Government
as an example of the effective use of commercial tools for the successful facilitation of important political agreements. Moreover, its successful implementation helped to lay a sound foundation for a further increase of Russian uranium product exports to the USA.

Dear Readers,

For JSC Techsnabexport, 2013 coincidentally represents two landmarks: the Company’s 50th anniversary and the completion of the programme of deliveries to the USA of low-enriched uranium

Uranium with a uranium-235 content less than 20% by mass.
derived from highly enriched uranium

Uranium with a uranium-235 content equal to or more than 20% by mass.
extracted from dismantled nuclear weapons.

This Public Annual Report for the anniversary year, 2013, brings to your attention details of the glorious history of the Company, which has come a long way over the past half century, evolving from an ordinary export-import office to Russia’s leading exporter of nuclear fuel cycle products and services. This Report also highlights many of the results that have been achieved over these decades.

At the same time, in my opinion, the key topic of the Report was predetermined. JSC Techsnabexport was directly involved in the implementation of the unique Russia–US intergovernmental agreement, which is remembered in modern history as the “HEU-LEU Agreement (Programme)

Agreement between the Government of the United States of America and the Government
” or “Megatons to Megawatts”. In November of the reporting year, the last batch of Russian LEU was shipped from St. Petersburg seaport to the USA to be used as fuel in US nuclear power plants. The ceremony was attended by Russian and American governmental officials, as well as representatives of the Russian and US companies involved in the HEU-LEU Programme

Agreement between the Government of the United States of America and the Government
.
I would like to highlight the unprecedented nature of the HEU-LEU Programme

Agreement between the Government of the United States of America and the Government
as an example of the effective use of commercial tools for the successful facilitation of important political agreements. Moreover, its successful implementation helped to lay a sound foundation for a further increase of Russian uranium product exports to the USA. The best confirmation of this fact is the JSC Techsnabexport’s portfolio of long-term contracts with US utilities built up following results of the reporting year: 16 mid- and long-term direct contracts and 3 were contracts concluded through the affiliated company, TENAM Corporation, with 12 US utilities totalling over US $5.8 billion.

This is only a part of the multibillion dollar export portfolio of the Company, which has scheduled deliveries until the end of the third decade of the 21st century. Therefore, it can be confidently stated that the highly skilled professional team of JSC Techsnabexport has successfully solved one of the most important strategic tasks facing the Russian nuclear industry, i.e. expanding the long-term footprint of the national nuclear fuel cycle products in the global uranium market.

In spite of its advanced (in a good sense) age, JSC Techsnabexport is distinguished by its readiness to undertake the most trailblazing projects and successfully complete them, whether that includes creation new routes for uranium product shipments, which was continued in the reporting year, or the development of new business areas, which are plentiful in the Company’s plans.

I look forward to JSC Techsnabexport team’s successful implementation of new breakthrough projects for the benefit of the Russian nuclear industry.

Kirill Komarov      



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