`Russia creates world`s first nuclear fuel bank`
Russia has successfully completed the creation of the world`s first international nuclear fuel bank under an agreement with the IAEA.
Moscow: Russia has successfully completed
the creation of the world`s first international nuclear fuel
bank under an agreement with the IAEA, the Rosatom state
atomic energy corporation said on Wednesday.
The fuel bank now stores 120 tonnes of low-enriched
uranium (LEU) in the Siberian city of Angarsk, the Russian
agency said in a statement.
"This is enough to complete two refuels of the world`s
most commonly-used light-water reactors with a capacity of
1,000 MW," the Rosatom statement said.
The fuel has been enriched to between two and 4.95 per
cent and is being kept under the auspices of the International
Atomic Energy Agency (IAEA).
The IAEA approved the reserve`s creation at a two-day
meeting in November. It is meant to ensure stable fuel
supplies to partner nations in case of disruptions of the
international uranium enrichment services market.
LEU is used by most of today`s civilian nuclear power
plants. The creation of the bank was first proposed in
September 2007 by Russia, which fears nuclear fuel supply
cutoffs being used by developed nations for political