Saudi Arabia is serious about developing civil nuclear energy within 10 years, which creates good opportunities for US companies, a US government official said.
“They seem to be very committed to having civil nuclear as part of what generates energy for them and to do it relatively quickly, like within the next 10 years,” US Undersecretary of Commerce Francisco Sanchez told reporters late on Monday.
Fast growing power demand is forcing the world’s largest oil exporter to look at all sources of energy. The kingdom will need 40 gigawatts (GW) of base load power by 2030, which could be met by nuclear plants, a government official said in October.
Sanchez spoke after meeting officials at the King Abdullah City for Atomic and Renewable Energy, along with a US business delegation including firms active in civil nuclear energy such as The Shaw Group.
The Gulf Arab kingdom has unveiled plans to develop nuclear energy to meet rising power demand, but no concrete progress has surfaced yet.
Demand for electricity in the desert country is rising at an annual rate of 8 percent and is expected to triple to 121,000 megawatts by 2032.
Sanchez said he saw “wonderful opportunities” for US companies active in civil nuclear energy, despite Saudi Arabia’s talks with other countries such as France and Russia on signing potential nuclear agreements.
“The Saudis know that Americans bring very, very good technology, and I think this is especially true in the civil nuclear space,” he said.
He added: “We have more operating nuclear reactors than any other country in the world … and I think the Saudis want to pick from the very best technology.”
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