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In his address at the 69th IAEA General Conference in Vienna, Saudi Energy Minister Prince Abdulaziz bin Salman reaffirmed the Kingdom’s commitment to the peaceful use of nuclear energy. 

He emphasized that, in collaboration with the International Atomic Energy Agency, º£½ÇÖ±²¥ continues to advance its national nuclear energy program across all its components, including the development of its first nuclear power plant.

The Kingdom’s national nuclear program supports several strategic objectives, including diversifying the national energy mix, strengthening supply chain security, and promoting sustainable energy development. 

This initiative reflects º£½ÇÖ±²¥â€™s commitment to leveraging nuclear energy as a platform for knowledge and technology transfer while enhancing national human and technical capabilities in line with international best practices.

Transitioning to nuclear energy complements the Kingdom’s longstanding efforts to build a sustainable renewable energy sector, integrating nuclear as a reliable alternative within the local energy ecosystem. With a rapidly growing population now exceeding 35 million, energy demand continues to rise — particularly for electricity generation and water desalination. 

While fossil fuels remain vital to the national economy, they are finite and heavily consumed domestically. º£½ÇÖ±²¥ currently burns hundreds of thousands of barrels of oil each day to generate electricity, highlighting the urgent need to diversify energy sources.

Integrating nuclear power will conserve valuable oil and gas reserves for future generations or export, significantly reduce greenhouse gas emissions, and enhance long-term energy and water security. Economically, shifting to nuclear energy will reduce domestic reliance on fossil fuels, free up hydrocarbons for export, and improve the Kingdom’s trade balance. It will also mitigate risks associated with global oil price volatility, which continue to affect public revenues despite the growth of non-oil sectors.

By fostering a robust ecosystem around nuclear energy, º£½ÇÖ±²¥ is positioning itself as a regional leader in clean energy innovation and industrial growth.

Talat Zaki Hafiz

Adopting nuclear power generation will support º£½ÇÖ±²¥â€™s climate resilience and sustainability commitments, including achieving net-zero emissions by 2060.

Constructing a nuclear power plant represents a strategic step in advancing the Kingdom’s future energy landscape while delivering wide-ranging socio-economic benefits. The program will help develop national human capital by equipping a new generation of Saudis with specialized skills in nuclear science, engineering, and related technical fields, raising professional expertise and creating sustainable, high-value employment opportunities.

Moreover, the development of nuclear energy will strengthen domestic technical capabilities, improve local content across the supply chain, and align with the Kingdom’s broader economic diversification goals under Vision 2030. It will open investment opportunities for local companies and international investors, particularly in high-tech, knowledge-based sectors. By fostering a robust ecosystem around nuclear energy, º£½ÇÖ±²¥ is positioning itself as a regional leader in clean energy innovation and industrial growth.

Prince Abdulaziz highlighted that the Kingdom has completed the necessary administrative steps to rescind the Small Quantities Protocol in coordination with the IAEA and has fully implemented the Comprehensive Safeguards Agreement as of early 2025. 

He also emphasized º£½ÇÖ±²¥â€™s active role in international engagement, including participation in the IAEA’s ConvEx-3 international emergency exercise hosted by Romania. Additionally, the Kingdom recently hosted a regional workshop in Riyadh, in collaboration with the IAEA, to promote the Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management.

These comprehensive administrative preparations, active international collaborations, and commitment to global nuclear safety standards demonstrate º£½ÇÖ±²¥â€™s readiness and determination to responsibly adopt nuclear energy. 

By aligning its national program with international best practices and strengthening partnerships with the IAEA, the Kingdom is well-positioned to harness nuclear power as a safe, sustainable, and strategic component of its energy future.

• Talat Zaki Hafiz is an economist and financial analyst. Twitter: @TalatHafiz