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USEC and Techsnabexport, or Tenex, have agreed to amend the pricing methodology used for the final years of the US-Russia high-enriched uranium agreement, USEC said in a February 20 filing with the US Securities and Exchange Commission. USEC estimated that under the new methodology, the total amount Russia receives under the 20-year contract, which expires at the end of 2013, "will substantially exceed $8 billion." In a filing a year ago, USEC said the contract allows adjustments to be made after 2007 to ensure that Tenex "receives at least approximately $7.6 billion." USEC also said, "We do not expect that any adjustments will be required." The contract covers the so-called SWU component of the low-enriched uranium produced from the downblending of HEU from Russian nuclear weapons. The amendment applies to deliveries in the years 2010-2013. The amendment must be approved by the US and Russian governments, USEC said. USEC and Tenex are their governments' executive agents for the HEU agreement.

Russian specialist nuclear (fuel exporter Techsnab-export - better known by its brand name of Tenex - has, in just over a week, won contracts to directly supply low-enriched uranium to four US nuclear power utilities. The latest contract, signed last week, is with the Exelon Corporation, which is one of the largest electricity producers in the US, with a production capacity of 25 000 MW (of which, 17 000 MW comes from nuclear plants) plus control of another (6 500 MW through long-term contracts. During the last week of May, the Russian company signed a contract with FuelCo, which represents the interests of three US utilities, PG&E, Union Electric and Luminant. All three will use low-enriched uranium supplied by Tenex to fuel their nuclear (reactors. Although the value of the Exelon deal has not been revealed, the FuelCo deal is worth more than $1-billion. All these deals (involve long-term contracts and all will run from 2014 to 2020.

* $1 bln in deals signed with PG&E, Ameren Corp, Luminant * Will give Russia 20 percent of U.S. uranium market 2014-2020 * Russia sees nuclear fuel storage in U.S. as next step (Recasts with quotes, details, background) By Simon Shuster MOSCOW, May 26 (Reuters) - Russia signed a landmark deal to supply nuclear fuel directly to U.S. companies on Tuesday, setting itself up to control 20 percent of the U.S. uranium market and extending its global reach in the nuclear sector. At a ceremony in the Russian capital, U.S. electricity firms PG&E, Ameren Corp and Luminant signed deals to get more than $1 billion in uranium supplies from Russia's state nuclear fuel exporter Tenex between 2014 and 2020.

Russia signed a landmark deal to supply nuclear fuel directly to U.S. companies on Tuesday, setting itself up to control 20 percent of the U.S. uranium market and extending its global reach in the nuclear sector. At a ceremony in the Russian capital, U.S. electricity firms PG&E, Ameren Corp and Luminant signed deals to get more than $1 billion in uranium supplies from Russia's state nuclear fuel exporter Tenex between 2014 and 2020.

"The French nuclear group Areva said Friday it would halt shipments of depleted uranium to Russia in July in response to a commercial dispute. Areva each year sends several tonnes of depleted uranium to Russia to be re-enriched in facilities operated by the Russian nuclear agency Rosatom. A contract between Areva and its Russian partner Tenex, a Rosatom subsidiary, was to run until 2014, with a possibility that conditions could be re-negotiated for the period 2011-2014. "We have agreed on ending the contract in 2010 because of a disagreement over commercial conditions," an Areva spokeswoman told AFP, adding that shipments would stop in July."