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Russia Proposes 'VVER' Reactors for First Saudi Nuclear Power Plant

The logo of Rosatom Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in France, on June 26, 2018. REUTERS/Benoit Tessier/File Photo
The logo of Rosatom Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in France, on June 26, 2018. REUTERS/Benoit Tessier/File Photo
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Russia Proposes 'VVER' Reactors for First Saudi Nuclear Power Plant

The logo of Rosatom Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in France, on June 26, 2018. REUTERS/Benoit Tessier/File Photo
The logo of Rosatom Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in France, on June 26, 2018. REUTERS/Benoit Tessier/File Photo

Moscow looks forward to expanding the horizons of Russian-Saudi cooperation in nuclear technology, especially in designing and building peaceful atomic power plants in the Kingdom, Rosatom State Nuclear Energy Corporation revealed to Asharq Al-Awsat.

"VVER" nuclear reactors - 'water-water energy reactor' - are a crucial product that Rosatom offers in its bidding portfolio, said Alexander Voronkov, CEO of ROSATOM Regional Center in the Middle East and Northern Africa region.

Voronkov added that Russia has proposed installing the hydro energy reactors to the first nuclear power plant Saudi Arabia plans to build in coming years.

Speaking to Asharq Al-Awsat, the Rosatom CEO confirms that the Russian reactor has withstood the test of time and has been developed since 1955.

To date, no VVER-equipped power plant has registered any serious mishap, which favors the technology when compared to its many competitors in the international market, explained Voronkov.

Since October 2017, Rosatom has been engaged in competitive talks for helping establish Saudi Arabia's first nuclear power plant.

In December 2017, Rosatom and the King Abdullah City for Atomic and Renewable Energy signed a roadmap for cooperation in the peaceful use of nuclear energy.

Voronkov pointed out that Rosatom is involved in nuclear power plant construction projects in 12 countries worldwide, including Turkey and Egypt.

He added that a focus on Russian projects with VVER-1200 reactors offers safety that is of particular importance to countries new to the nuclear industry, such as Saudi Arabia.

"Our gained experience allows us to support the client at any stage of the implementation of any nuclear project," affirmed Voronkov, noting that the construction of a nuclear power plant constitutes a complex, comprehensive, and multifaceted task.

According to Voronkov, Rosatom can help with several areas such as design and construction, refueling, operation and maintenance services, modernizing generating units, educating and training staffers, and raising the level of public acceptance of nuclear energy.

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Business

China Temporarily Bans Helium Exports as US-Iran Tensions Flare Again

Ships and containers at a Chinese port (Reuters)
Ships and containers at a Chinese port (Reuters)
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China Temporarily Bans Helium Exports as US-Iran Tensions Flare Again

Ships and containers at a Chinese port (Reuters)
Ships and containers at a Chinese port (Reuters)

China announced on Friday a temporary export ban on helium, effective immediately, as resumption of military conflict in the Middle East threatens to trigger new shortages of the gas critical for chip manufacturing.

Earlier this year, the US-Israeli war on Iran led to helium shortages, disrupting companies globally, including in China, where the AI industry increasingly relies on domestic chips for training and ⁠running AI models. Helium is essential for heat management in semiconductor production.

The helium ban is the latest example of Beijing seeking to prevent domestic shortages of critical materials by curbing exports. It has previously imposed similar measures on fuel, fertilizers and sulfuric acid.

China is also looking to boost domestic chip manufacturing capacity and reduce the industry's dependence on cutting-edge Nvidia semiconductors that fall under US export controls.

China is heavily ⁠dependent on overseas helium despite efforts to expand domestic production.

Still, the export ban could squeeze global supply further because Chinese companies have increasingly acted as intermediaries, importing Russian helium and re-exporting some volumes to overseas markets, including Europe.

According to Reuters, analysts ⁠estimate China imports around 85% or more of its helium requirements. Qatar accounts for a major share of global helium output and has supplied more than half ⁠of China's imports in recent years.

Helium is extracted from natural gas fields with unusually high helium concentrations and cannot be quickly manufactured from ⁠other industrial processes.

In chipmaking, it is used for wafer cooling, plasma etching, chemical vapor deposition, atomic layer deposition, lithography support and leak detection.

Business

IEA Says Global Oil Demand Picks Up Despite War Fears

FILE PHOTO: A drone view of three berths able to load vessels with oil is seen after their construction at Westridge Marine Terminal, the terminus of the Canadian government-owned Trans Mountain pipeline expansion project in Burnaby, British Columbia, Canada, April 26, 2024. REUTERS/Chris Helgren/File Photo
FILE PHOTO: A drone view of three berths able to load vessels with oil is seen after their construction at Westridge Marine Terminal, the terminus of the Canadian government-owned Trans Mountain pipeline expansion project in Burnaby, British Columbia, Canada, April 26, 2024. REUTERS/Chris Helgren/File Photo
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IEA Says Global Oil Demand Picks Up Despite War Fears

FILE PHOTO: A drone view of three berths able to load vessels with oil is seen after their construction at Westridge Marine Terminal, the terminus of the Canadian government-owned Trans Mountain pipeline expansion project in Burnaby, British Columbia, Canada, April 26, 2024. REUTERS/Chris Helgren/File Photo
FILE PHOTO: A drone view of three berths able to load vessels with oil is seen after their construction at Westridge Marine Terminal, the terminus of the Canadian government-owned Trans Mountain pipeline expansion project in Burnaby, British Columbia, Canada, April 26, 2024. REUTERS/Chris Helgren/File Photo

The International Energy Agency said Friday that "a recovery" in global oil demand had started as supplies tentatively start moving through the strategic Strait of Hormuz again and prices ease.

"A recovery in world oil demand is underway, with consumption set to rise from its May nadir," AFP quoted the IEA's monthly report as saying.

The agency had in June predicted a fall in demand of 1.1 million barrels a day (mbd) through 2026 because of the Middle East war, which strangled traffic through the strait. It now expects a one million barrel a day fall.

"Global oil supply rebounded by a sharp 4.1 mbd to 98.8 mbd in June, as a resumption of flows through the Strait of Hormuz underpinned a partial recovery in Gulf production. World output was nevertheless some 9.4 mb/d below pre-war levels," it said.

"Total Gulf oil exports, including volumes bypassing the Strait, surged by 6.5 mbd in June, to 16.1 mbd - a big jump but still well below the 24 mbd average before the war started."

According to the IEA, world supply improved to 102.6 mbd in June and would continue to get better if there was "a swift de-escalation of renewed hostilities".

"If transit volumes improve, oil supply will expand by 7.5 mbd next year," the agency added.

The agency said world oil reserves increased for the first time since the US-Israeli attacks on Iran on February 28 set off the war.

It added that stocks in the richest nations had fallen as their oil imports remained low despite the rise in volumes being transported by sea.

While oil prices fell dramatically in June, fresh fighting between US and Iranian forces this week "clouds the outlook", the IEA said.

"Renewed exchanges of fire in the Gulf this week highlight the risks of not reaching a lasting peace agreement, which is a must for the normalization in oil markets," it commented.

Business

Humain, Cohere Launch Strategic Partnership to Expand AI Infrastructure in Saudi Arabia

Logo of the Saudi company Humain (Asharq Al-Awsat)
Logo of the Saudi company Humain (Asharq Al-Awsat)
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Humain, Cohere Launch Strategic Partnership to Expand AI Infrastructure in Saudi Arabia

Logo of the Saudi company Humain (Asharq Al-Awsat)
Logo of the Saudi company Humain (Asharq Al-Awsat)

Humain, the company building an integrated artificial intelligence ecosystem, and Canadian sovereign AI company Cohere have announced a strategic partnership to develop AI computing infrastructure and support the development of sovereign AI models and enterprise AI solutions in Saudi Arabia.

The agreement was announced during Canadian Prime Minister Mark Carney’s visit to the Kingdom, marking Cohere’s first international expansion outside North America.

Under the partnership, Humain will allocate at least 50 megawatts of AI-dedicated computing capacity to support the next generation of foundation models being developed by Cohere.

The capacity may be expanded over the next five years in line with growing demand, with the infrastructure scheduled to become operational in the fourth quarter of 2027.

The collaboration also includes the development of customized AI solutions for enterprises, sovereign Arabic-language models, and specialized models for various economic sectors, supporting the secure adoption of AI applications across the Kingdom.

Humain Chief Executive Officer Tareq Amin said access to computing capacity will be the defining factor in the future of artificial intelligence.

He added that Cohere’s decision to establish its first large-scale international computing deployment in Saudi Arabia reflects the strength of the infrastructure Humain is developing to support advanced AI research and foundation models.

For his part, Aidan Gomez, Cohere’s co-founder and chief executive officer, said developing new generations of AI models requires sustained access to high-performance computing.

He added that the partnership with Humain provides the infrastructure and flexibility needed to support the company’s long-term strategy, while also enabling collaboration on sovereign AI models and initiatives that will benefit both Saudi Arabia and global markets.

The partnership aims to combine Humain’s AI infrastructure with Cohere’s expertise in developing large language models, strengthening regional AI computing capabilities and creating a scalable platform to meet growing demand for enterprise AI solutions.

It also seeks to enable organizations to deploy secure, production-ready AI applications tailored to business needs.