France and Saudi move closer to nuclear reactor deal

The Kingdom of Saudi Arabia is close to forging an agreement with France to develop European Pressurised nuclear reactors (EPRs) in a bid to reduce its dependency on domestic oil and gas consumption. President Francois Hollande and Saudi Deputy Crown Prince Mohammed bin Salman

The two countries agreed midweek to press ahead with feasibility studies to build two flagship Areva-designed EPR nuclear reactors.

"We are about to sign deals worth $12bn," French Foreign Minister Laurent Fabius told a news conference ahead of a ceremony between President Francois Hollande and Saudi Deputy Crown Prince Mohammed bin Salman.

The reactor feasibility studies could signal an opening of the Saudi market for French nuclear group Areva, which has struggled to win export contracts. It lost a key tender in the Middle East in late 2009 when the United Arab Emirates picked a consortium of Korean companies to build the Gulf Arab region's first nuclear power station.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...