US, Saudi Arabia to sign nuclear cooperation agreement: Energy secretary
The US and Saudi Arabia will sign a preliminary energy cooperation agreement to develop Saudi civil nuclear technology, Energy Secretary Chris Wright said Sunday during a press conference in the Saudi capital.
Wright met with Saudi Energy Minister Prince Abdulaziz bin Salman earlier on Sunday.
According to Reuters and Saudi media, he said Riyadh and Washington were on "a pathway" to reach an agreement to develop a Saudi civil nuclear programme.
On his first visit to Riyadh as secretary, part of a tour in energy-producing Gulf states, Wright said details on nuclear cooperation between the US and Saudi Arabia would come later this year.
He explained that the cooperation will focus on building a commercial nuclear power industry in the Kingdom 'with meaning developments expected this year.'
"For a U.S. 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 and American objectives," Wright said.
The so-called 123 agreement with Riyadh refers to Section 123 of the US Atomic Energy Act of 1954. It is required to permit the US government and American companies to work with entities in the kingdom on developing a civil nuclear industry.
The US official's remarks come ahead of US President Donald Trump's planned visit to Saudi Arabia in May, which could be his first overseas trip since his return to power.
Trump said Saudi officials had agreed to "spend close to a trillion dollars ... in our American companies, which to me means jobs."
Trump added that US companies will make equipment for Saudi Arabia and other parts of the Middle East.
"And for that, I think it's worth it," he stated.
In January, Saudi Crown Prince Mohammed bin Salman promised to pour $600 billion into US trade and investments.
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