US Energy Secretary Chris Wright announced at a press conference in Riyadh on Sunday that the US and Saudi Arabia are set to sign a preliminary agreement on energy cooperation and civilian nuclear technology.

Wright said further details on the nuclear collaboration would be shared later this year. The focus is on developing a commercial nuclear power industry in Saudi Arabia. “Significant developments are expected this year,” he added, as both countries move forward with the initiative.

Minister of Energy receives U.S. Secretary of Energy Mr. Chris Wright at King Abdullah Petroleum Studies and Research Center (KAPSARC).

— وزارة الطاقة (@MoEnergy_Saudi) April 12, 2025

Ben Dietderich, press secretary for the US Department of Energy, clarified: “On Sunday, US Secretary of Energy Chris Wright announced that the United States and Saudi Arabia had agreed to sign a Memorandum of Understanding regarding energy cooperation. The MOU is legally non-binding, includes no financial commitments, and instead signifies the two nations’ intentions to identify areas in all fields of energy in which collaboration would advance mutual interests and shared strategic goals.”

Praising the Kingdom’s energy development approach, Wright said, “I believe Saudi Arabia will be one of the leading countries investing in the US, which is a win for both nations.”

Wright thanked Crown Prince Mohammed bin Salman and Energy Minister Prince Abdulaziz bin Salman for their warm hospitality, noting the visit marked a step forward in strengthening bilateral ties. Discussions covered a wide range of topics, including energy cooperation, critical minerals mining, industrial development, and climate change.

On trade, Wright referenced President Trump’s broader economic agenda, describing tariffs as part of a strategy to boost domestic investment. He stressed the importance of “fair trade—not restricted trade, just fair, reciprocal trade.”

Wright expressed confidence in Saudi Arabia’s growing role as a key investor in the US, predicting it would become one of the leading contributors—an outcome he said would benefit both nations.

On energy prices, he confidently stated: “Under President Trump’s leadership, in the next four years, we are almost certain to see lower average energy prices than we saw during the last four years of the current administration.”

He also highlighted the importance of long-term planning in the energy sector, noting that “energy development requires planning over decades,” a strategy he believes will serve the interests of both countries and the global community.