KSA, China sign nuclear energy cooperation deal

Updated 10 August 2014

KSA, China sign nuclear energy cooperation deal

The King Abdullah City for Atomic and Renewable Energy (K.A.CARE) signed a memorandum of understanding with the Chinese National Nuclear Energy Company (CNNC) in Shanghai on Thursday on cooperation mechanisms for the peaceful use of nuclear energy.
Waleed Husain Abu Al-Faraj, vice president of K.A.CARE, and Hwan Min Gang, chief financial officer of the CNNC, signed the MoU.
The signing ceremony was attended by several K.A.CARE and Chinese officials, including Hashem Yamani, K.A.CARE president, and Wushin Ochi Shiong, minister of State Administration of Energy.
Yamani was welcomed by several Chinese officials and members of the Saudi Embassy in Shanghai at the Shanghai airport.
Yamani also met with Wen Jiabao, minister of the National Energy Commission, and several officials in Shanghai to discuss areas of mutual cooperation in the atomic and renewable energy fields between the two countries.
K.A.CARE was established through a royal decree issued by Custodian of the Two Holy Mosques King Abdullah on April 17, 2010, with the fundamental aim of building a sustainable future by developing substantial alternative energy thanks to an ever-increasing pressure on the country’s nonrenewable hydrocarbon resources.
As a result, alternative, sustainable and reliable sources of energy for generating power and producing desalinated water were introduced in a bid to reduce consumption of the nation’s fossil fuel reserves.
A balanced energy mix of alternative and conventional energy is strategically important for Saudi Arabia’s long-term prosperity, energy security and its leading position in the global energy market, experts said.
Atomic and renewable energy will account for a significant portion of Saudi Arabia’s future energy mix.
The two sectors will provide substantial capacity, advanced technology, efficient use of resources and will be fully compliant with international standards,
conventions and treaties, enabling the Kingdom to plan for increased demand for power and desalinated water, while ensuring the rate of national development continues apace.
According to government estimates, anticipated demand for electricity in the Kingdom is expected to exceed 120GW in 2032.
Unless alternative energy and energy conservation measures are implemented, the overall demand for fossil fuel for power, industry, transportation and desalination is estimated to grow from 3.4 million barrels of oil equivalent per day in 2010 to 8.3 million barrels of oil equivalent per day in 2028.

Saudi Arabia, Russia sign agreements during Vladimir Putin visit to Riyadh

Updated 14 October 2019

Saudi Arabia, Russia sign agreements during Vladimir Putin visit to Riyadh

  • King Salman, Crown Prince Mohammed bin Salman welcome Russian leader at Al-Yamamah Palace
  • 20 deals of cooperation were signed between the two countries

DUBAI: Russian President Vladimir Putin arrived in Riyadh on Monday on his first visit since 2007, and was welcomed to Al-Yamamah Palace by Saudi King Salman as well as Crown Prince Mohammed bin Salman.

Riyadh Governor Prince Faisal bin Bandar earlier personally welcomed the Russian leader as he disembarked from his aircraft at King Khalid International Airport.

An official welcoming ceremony was held in honor of Putin and various agreements were signed between the governments of Saudi Arabia and Russia including an oil cooperation pact.


READ MORE: Dedicated Arab News ‘Putin in Saudi Arabia’ spotlight


Some 20 agreements were signed between the two countries, in a ceremony overseen by the king, crown prince, Putin and Russian foreign minister Sergei Lavrov.

Russian sovereign wealth fund RDIF and Saudi Arabia's SALIC signed an agreement to team up in searching for investment projects in the Russian agricultural sector, RDIF said in a statement on Monday.

A string of multi-million-dollar investment contracts were also signed in the aerospace, culture, health and advanced technology sectors.

Putin’s “long-awaited” visit will include discussions on “further cooperation to stabilize prices on the world carbohydrate market” as well as the situation in Syria, the Gulf and Yemen.

The Russian leader, in an interview with Arab broadcasters and aired on Sunday ahead of his arrival, described the “very good relations” with the Saudi leadership.

“We consider Saudi Arabia a friendly nation. I have very good relations with both the King and the Crown Prince,” Putin said, and noted the improved bilateral relations between both countries.


PHOTO GALLERY: Vladimir Putin visits Saudi Arabia


Putin in the interview likewise condemned the Sept. 14 attacks on Aramco facilities, and said “such actions do not bring any positive results to anybody, including perpetrators,” as they do not have a strong effect on the market.

“We condemn any such actions, end of story. This is the official position … regardless of who stood behind the incident,” the Russian president commented.

A forum attended by Saudi Arabian and Russian business leaders and government officials earlier Monday resulted in the signing of several agreements between companies of both countries.