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FINANCIAL NEWS
Kuwait, France sign nuke agreements
18 Apr 2010
(MENAFN) Kuwait and France announced signing several agreements to jointly develop nuclear energy for peaceful purposes, in a bid to meet the rising energy demand, Reuters reported.
Kuwait, the world’s fourth largest oil exporter, saw some power cuts in the past, especially during the hot summer months when air conditioning use rises.
The two countries announced in a joint statement that the agreements focus on developing nuclear energy to provide electricity and water desalination.
Kuwait has been in negotiations with France’s Areva this year, while France and Saudi Arabia have said they are close to finalizing a civilian nuclear energy cooperation agreement.
It is worth mentioning that all six GCC members shown interest in developing nuclear power, in order to meet hiking demand for electricity and to diversify their economies away from the oil and gas industry.
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