The US and Saudi Arabia will sign a preliminary agreement on energy investments that include a civilian nuclear technology deal, Washington's Energy Secretary said in Riyadh.
Secretary Wright’s press secretary and DOE spokesperson, Ben Dietderich, that you can attribute:
“On Sunday, U.S. Secretary of Energy Chris Wright announced that the United States and Saudi Arabia had agreed to sign a Memorandum of Understanding (MOU) regarding energy cooperation. The MOU is legally non-binding, includes no financial commitments, and instead signifies the two nation’s intentions to identify areas in all fields of energy in which collaboration would advance the mutual interest and shared strategic goals of each participant.”
Further details on nuclear co-operation between the two countries would be revealed later in the year, Chris Wright said in a press conference on Sunday, Reuters reported.
Mr Wright, who met with Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman earlier on Sunday, said Riyadh and Washington were on a “a pathway” to reaching an agreement to work together to develop a Saudi civil nuclear programme, Reuters reported.
“For a US partnership and involvement in nuclear here, there will definitely be a 123 agreement … there's lots of ways to structure a deal that will accomplish both the Saudi objectives and the American objectives,” Mr Wright said.
He was referring to Section 123 of the US Atomic Energy Act of 1954 that is required to allow the US government and American companies to work with entities in the kingdom to develop a civil nuclear industry. It outlines nine non-proliferation criteria that a country must abide by to prevent it from using the technology to develop nuclear arms or transfer sensitive material to others.
Saudi Arabia, the world's biggest oil exporter, is seeking to develop substantial renewable energy and reduce carbon emissions under its Vision 2030 economic overhaul plan. Part of this is expected to come from nuclear energy.
It aims to have 17 gigawatts of nuclear capacity by 2040 and bring two reactors with a combined capacity of 3.2 gigawatts online within the next decade.
The latest announcement by Mr Wright came a day after his delegation arrived in Riyadh and visited the King Abdullah Petroleum Studies and Research Centre.
Riyadh is the second stop of his first international trip as Secretary of Energy. On Thursday, he was in the UAE where he said Washington considers the Emirates, Saudi Arabia and Qatar as key partners to help the US meet its growing energy demand, spurred by the proliferation of advanced technology.
Mr Wright said “you're going to see a lot of energy co-operation between the United States and the UAE” and to expect massive Emirati investment in the US while visiting Adnoc's headquarters in Abu Dhabi.
He is expected to tour the region for about two weeks, with a stop in Qatar after the UAE and Saudi Arabia. US President Donald Trump is expected to visit the Middle East next month.
