According to a report by the American consumer news and business channel (CNBC) on July 22, the United States signed an agreement with Saudi Arabia on Wednesday to assist Saudi Arabia in developing civilian nuclear energy projects.
The U.S. Department of Energy stated that this agreement will lay the legal foundation for a collaboration that will last for decades and cost billions of dollars. The Department of Energy noted that the agreement will allow American companies to participate in Saudi Arabia’s nuclear energy projects and promote the export of American technologies.
American Energy Secretary Chris Lighthott and Saudi Energy Minister Prince Abdulaziz Bin Salman also signed a bilateral nuclear safeguards agreement.
Wright said that the agreement will “uphold the highest standards of nuclear safety and non-proliferation while relying on America’s world-class nuclear technology and scientists.”
The U.S. Department of Energy stated that this agreement will be submitted to Congress for review. According to the U.S. Atomic Energy Act, any cooperation between the United States and foreign countries in civil nuclear energy must undergo such review.
Democratic lawmakers express concerns about the potential impact of this agreement on the Middle East. As the United States and Iran sign this agreement, Washington is bombing Iran in an attempt to force Tehran to abandon its nuclear ambitions.
Connecticut Senator Chris Murphy posted on social media: "This agreement will trigger a regional nuclear race and further weaken Iran's willingness to limit its nuclear program."
Westinghouse Electric's CEO Dan Suman said that this agreement is "a milestone step". In a statement sent to CNBC, Suman stated that the agreement will strengthen energy security and provide opportunities for the American nuclear industry to expand.
Westinghouse Electric developed a large reactor called AP1000. This technology is considered one of the key technologies for expanding the use of nuclear energy. Westinghouse Electric is jointly owned by Canadian uranium mining company Kemco and Brookfield, a major investor in energy infrastructure sectors.
Nuclear fuel market information service company UxC President Jonas Xenzel said this agreement will allow West Power, Berkdek, BWXT, and Centrus to sell sensitive nuclear equipment to Saudi Arabia.
Xinze said: "Without such nuclear trade agreements, American nuclear companies would still be excluded from the Saudi market. Saudi Arabia is likely to choose nuclear technologies and equipment from other countries such as France, Russia, or China."
Currently, almost all of Saudi Arabia's energy comes from fossil fuels. According to the International Energy Agency, nearly 60% of Saudi Arabia’s electricity comes from natural gas, and about 40% comes from oil.
