US Energy Secretary Chris Wright.- Getty Images
The United States and Saudi Arabia will sign a preliminary agreement to cooperate over the country’s ambitions to develop a civil nuclear industry, US Energy Secretary Chris Wright told reporters in the Saudi capital Riyadh on Sunday.
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Wright, who had met with Saudi 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.
Wright, on his first visit to the kingdom as secretary as part of tour of energy-producing Gulf states, said further details over a memorandum detailing the energy cooperation between Riyadh and Washington would come later this year.
“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,” he said.
A so-called 123 agreement with Riyadh refers to Section 123 of the US Atomic Energy Act of 1954 and is required to permit the US government and American companies to work with entities in the country to develop a civil nuclear industry.
Saudi Arabia, the world’s largest oil exporter, is seeking to generate substantial renewable energy and reduce emissions, under the crown prince’s Vision 2030 reform plan. At least some of this is expected to come from nuclear energy.
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