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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...