OJSC Techsnabexport, a Russian exporter of nuclear materials, forecasts revenues from exports of uranium production to increase by 3% to $3.35 billion for this year, the company reported.

Exports of uranium production came to $3.25 billion in 2010, of which $939 million was received from deliveries to the U.S. through HEU-LEU contracts (shipments to the United States of LEU received from Russian stocks of HEU).

It was earlier reported that recent tragic events in Japan would be reflected in Techsnabexport’s 2011 results. The company had a contract for delivering low-enriched uranium to TEPCO, the operator of the Fukushima Nuclear Power Plant for 2011-2017. In addition, Techsnabexport has deferred the delivery to other Japanese companies owing to the shutdown of the majority of Japanese NPPs following March 11’s devastating earthquake. This will also cause lost revenues for the company.

The company’s head, Alexei Grigoryev said that, despite the events in Japan, the company is in negotiations with Japanese partners for signing new contracts.

Techsnabexport is part of the Rosatom state corporation. Techsnabexport supplies around 40% of enriched uranium for western-designed reactors.