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Caspian Energy Journal Caspian European Club
Monday, 15 June 2015 15:00

IAEA moves ahead on establishing low enriched Uranium Bank in Kazakhstan

The IAEA Board of Governors approved on une 15 an agreement with Kazakhstan to establish and operate in Kazakhstan the IAEA Low Enriched Uranium (LEU) Bank, which will host a reserve of LEU as an assurance of supply mechanism for Member States in case they cannot obtain LEU on the global commercial market, through State-to-State arrangements, or through any other means, Caspian Energy News (www.caspianenergy.net) reports with reference to the press service of IAEA.

LEU is used to make the fuel that powers most nuclear reactors around the world. The IAEA Board also approved a transit agreement with the Russian Federation for the transport of the IAEA LEU through its territory to and from the IAEA LEU Bank.

“The conclusion of the two agreements, with today’s approval by the Board of Governors, represents a significant milestone for this important project, enabling us to proceed to full-scale implementation,” said IAEA Director General Yukiya Amano.

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