MUST-READS

• Tech Industry Wants to Lock Up Nuclear Power for AI

  The owners of roughly a third of U.S. nuclear-power plants are in talks with tech companies to provide electricity to new data centers needed to meet the demands of an artificial-intelligence boom. Among them, Amazon Web Services is nearing a deal for electricity supplied directly from a nuclear plant on the East Coast with Constellation Energy CEG -2.20%decrease; red down pointing triangle, the largest owner of U.S. nuclear-power plants, according to people familiar with the matter. In a separate deal in March, the Amazon.com AMZN -2.32%decrease; red down pointing triangle subsidiary purchased a nuclear-powered data center in Pennsylvania for $650 million.

• Why GCC states are boosting their energy footprint in the region

  As geopolitical uncertainties rise, Gulf Arab states have adopted a two-pronged strategy for their energy investments. First, they are pivoting to Asian markets—a move aimed at securing buyers for their energy exports. This comes as the center of gravity for demand is moving away from member countries of the Organization for Economic Cooperation and Development (OECD) and towards developing Asia, which now represents the primary focus for growth. Second, Gulf states are broadening their oil and gas investments to include less politically stable countries in the region, such as Iraq and Lebanon, as well as emerging energy-rich economies in the South Caucasus—including Azerbaijan.

• Christie’s celebrates Saudi artist Ahmed Mater and poetic power of art

  “This was the first language of art that told me that art is symbolic, that art is telling a story, that art is your voice,” Mater tells The National. “Here, art is from society, it's part of the family. Art was not inside a frame. It's art for life. It's coming out of the frame to be part of the walls, part of our lifestyle.”

• Saudi Arabia aims to triple Umrah pilgrims to 30 million annually
  Saudi Arabia is seeking to increase the number of Muslims performing Umrah, or the minor pilgrimage, to reach 30 million a year, an official has said. "Every year, there is an increase in numbers," Abdulrahman bin Fahd, an assistant undersecretary for Umrah Affairs, told Saudi television Al Ekhbariya. He cited a plan aiming to target more than 10 million Umrah pilgrims this year.

• The EU and GCC have embarked on a new era of strategic partnership

  The EU has become acutely aware of the absolute urgency of a fresh and coherent approach to reflect, strengthen and lead the growing strategic convergence with the GCC around trade, investment and new technologies; energy security, climate change and green transition; people to people; regional, global security and humanitarian challenges; and a new generation of dedicated institutional engagements.

• India and Iran Move Forward on Long-Delayed Chabahar Port Project

  On May 13, India signed a 10-year agreement with Iran to develop and operate the Shahid Beheshti terminal of Iran’s strategic Chabahar port. The new agreement follows a previously promised Indian investment in 2016 of a potential $500 million. It comes after multiple failures to fully implement a previous deal concluded in May 2016 to develop two terminals and five berths at Chabahar port to transport goods and gas from Central Asia to India and handle other international cargo.

• U.S. Special Envoy for Yemen Lenderking’s Travel to Saudi Arabia and Oman

  U.S. Special Envoy for Yemen Tim Lenderking is traveling to Saudi Arabia and Oman this week to continue discussions with partners regarding recent Houthi detentions of UN, diplomatic, and international NGO staff and efforts to secure an immediate end to reckless Houthi attacks in the Red Sea and surrounding waterways.  Houthi detentions and attacks threaten progress toward achieving a durable resolution to the conflict in Yemen and obstruct the delivery of humanitarian assistance to Yemenis and people in need across the region.

• Saudi Aramco Awards $25 Billion in Contracts For Gas Expansion

  Saudi Arabia has some of the biggest gas reserves in the world. Development of the Jafurah field, estimated to hold 200 trillion cubic feet of gas, is expected to cost $100 billion and boost the firm’s gas production more than 60% by 2030.

• Saudi Aramco finalizes deal for phase 2 of Jafurah gas field scheme

  Saudi Aramco has finalized agreements for the second phase of its Jafurah gas field development and the third stage of the expansion of its master gas system, awarding contracts exceeding $25 billion. The company has granted 16 agreements for phase two development at Jafurah, worth a combined total of around $12.4 billion. An additional 15 one-time complete contracts, worth around $8.8 billion, have been awarded to commence the phase three expansion of the master gas system, which delivers natural gas to customers across Saudi Arabia.

• Saudi Aramco Awards $25 Billion in Contracts For Gas Expansion

  Saudi Aramco has awarded construction contracts worth $25 billion for the development of its Jafurah gas project, as it looks to boost production of the fuel considered a key part of plans to reduce plant-warming emissions. The contracts awarded include $12.4 billion for increasing gas output at Jafurah, plus $8.8 billion for expanding the so-called master gas system, which delivers natural gas to customers around the country, according to a statement. Aramco also awarded $2.4 billion in contracts for gas rigs.

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