Saudi Arabia seeks nuclear reactor contracts with US firms
The world’s top oil exporter wants nuclear power to diversify its energy supply mix, enabling it to export more crude rather than burning it to generate electricity.
Saudi Arabia aims to start talks with Washington within weeks on an agreement to allow US firms to participate in its nascent civilian nuclear energy programme, the kingdom's energy minister said on Wednesday.
The first tender for construction of two nuclear reactors is expected in 2018.
Saudi Arabia is interested in reaching a civilian nuclear co-operation agreement with Washington.
Riyadh has invited US firms to take part in developing the kingdom's first atomic energy programme.
The world’s top oil exporter wants nuclear power to diversify its energy supply mix, enabling it to export more crude rather than burning it to generate electricity.
"We've indicated with our American partners that we intend to localise the entire value chain with nuclear energy in the Kingdom of Saudi Arabia," Energy Minister Khalid al Falih told Reuters in an interview.
"We hope that through the negotiations that will be taking place over the next few weeks with our American partners that we will find common ground that will allow the American government to meet the intent of American law."
Washington usually requires a country to sign a peaceful nuclear co-operation pact – known as a 123 agreement – that blocks steps in fuel production with potential bomb-making applications before US technology can be used.
Riyadh has said it wants to tap its own uranium resources for "self-sufficiency in producing nuclear fuel" and it was not interested in diverting nuclear technology to military use.
In previous talks, Saudi Arabia has refused to sign up to any agreement that would deprive it of the possibility of one day enriching uranium.
Riyadh plans to build 17.6 gigawatts (GW) of nuclear capacity by 2032, the equivalent of around 16 reactors, making it one of the biggest prospects for an industry struggling after the 2011 nuclear disaster in Japan.
Toshiba-owned Westinghouse and two other U.S.-based companies are in talks to form a consortium to bid on the project and are pushing Washington to restart talks with Riyadh on a civil nuclear co-operation pact.