Friday, April 27, 2012
Top oil exporter Saudi Arabia expects to finalize its atomic energy plans this year but the U.S. nuclear industry may miss out on multi-billion dollar contracts to turn it into a reality unless Washington and Riyadh sign a non-proliferation deal soon.
Saudi Arabia has some of the world's largest oil and gas fields but rapidly rising power demand in the kingdom threatens to absorb much of those reserves unless it can find alternative fuels for its long-term economic growth.
Riyadh, which says electricity demand could soar from around 45 gig watts (GW) to 120 GW by 2035, commissioned the King Abdullah City for Atomic and Renewable Energy (KA-CARE) in 2010 to draw up a plan for reducing reliance on oil and gas.
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Posted by Michele Kearney at 7:55 PM