Saudi Arabia Plans To Free 1 Mb/d As it Invests in Nuclear Power

By Charles Kennedy – OilPrice

Saudi Arabia’s power stations, desalination plants, factories and farms consume more than 1 million barrels per day of liquid fuel that the kingdom aims to displace by 2030. Natural gas and renewables will provide most of the replacement energy. Nuclear power could reduce domestic oil consumption further after 2030 as electricity demand continues to grow. On July 22, the United States and Saudi Arabia signed a 30-year civil nuclear cooperation agreement, clearing the way for U.S. companies to potentially supply the kingdom with reactors, nuclear materials and technical services. Similar agreements with Turkey and the UAE entered into force in June 2008 and December 2009, respectively.