Nuclear energy good for Gulf, Saudis say

"A giant Gulf reactor, at the best possible site, would be the most cost-effective option to generate power, as well as distribute it at a cheap rate," Bakr Hamza Khoshaim, SEC board member, said.

Khoshaim said the Gulf states should work together on generating nuclear power. Even if that happens, he said, it could be more than 10 years before energy is actually supplied.

"Given the high demand for power and the population growth in the region, the only immediate solution is nuclear energy," Khoshaim said.

Demand for reactors has increased and is only expected to continue to grow, according to Othman Sali, vice president for nuclear projects at French company Areva.