PNN – The U.S. Department of Energy announced on Wednesday night that U.S. Energy Secretary Chris Wright and Saudi Energy Minister Prince Abdulaziz bin Salman had signed a nuclear cooperation agreement—known as a “123 Agreement”—and a bilateral safeguards agreement.
According to the report of Pakistan News Network, the department stated that, together, these two agreements establish the legal foundation for a multi-billion-dollar, decades-long partnership that advances several priority economic and strategic objectives, including nuclear non-proliferation.
The statement reads: The “123 Agreement” provides broad access for U.S. companies to Saudi Arabia’s nuclear energy program, benefiting American industries, workers, and supply chains, while also helping to meet Saudi Arabia’s energy needs.
The U.S. Department of Energy added that these two agreements also advance U.S. and regional security by upholding high standards of safety, security, and non-proliferation, and by strengthening America’s competitive edge in civil nuclear technology.
Chris Wright stated: These agreements reflect our two countries’ shared commitment to strengthening U.S.-Saudi trade relations, fostering prosperity at home, and ensuring security for our allies abroad.
He added: Rest assured, these agreements meet the highest standards of nuclear safety and non-proliferation while relying on the world’s best nuclear technology and scientists.
The U.S.-Saudi nuclear cooperation agreement is being submitted to Congress for review.