Trump Administration officials are reportedly meeting at the White House today to discuss details of a potential nuclear cooperation agreement with Saudi Arabia, known as a 123 Agreement, according to two administration officials quoted in Bloomberg.
Section 123 of the U.S. Atomic Energy Act requires the conclusion of a peaceful nuclear cooperation agreement for significant transfers of nuclear material, equipment, or components from the United States to another nation.
23 nations have a 123 agreement with the United States, including the United Arab Emirates.
As Bloomberg reports and SUSTG has monitored closely in recent weeks, previous U.S. agreements have prohibited the enrichment and reprocessing of uranium, and that had scuttled negotiations to use U.S. technology in Saudi nuclear projects during the Obama administration. The administration is mulling easing that requirement now as a way to help Westinghouse and other companies win Saudi Arabian contracts, the two sources told Bloomberg.
Westinghouse is in talks with other U.S-based companies to form a consortium to bid in a multi-billion-dollar tender for two nuclear power reactors in Saudi Arabia. If the consortium forms and bids, it would have stiff international competition in countries like South Korea, France, and Russia, who have either publicly stated intentions to bid for the reactors or are likely to.
Taking part in the tender would be a major step for reactor builder Westinghouse after it went into chapter 11 bankruptcy this year.
U.S. Energy Secretary Rick Perry recently concluded a trip to Saudi Arabia and met with top Saudi officials, including King Salman, Crown Prince Mohammed bin Salman, and Minister of Energy Khalid Al-Falih.
