According to the Minister of Foreign Affairs and Trade, the processes taking place in Northern-Europe and the area beyond the Arctic have a major security, environmental and energy impact on Europe, and therefore Hungary will render its cooperation with the region of Northern-Europe even more dynamic and closer in the future.

Péter Szijjártó, who is attending the international conference Arctic Frontiers held in the city of Tromso in Norway, told the Hungarian news agency MTI by telephone that Norway will have the chief role in this process. Hungarian-Norwegian security, energy and economic cooperation will be significantly extended in the next few years, with Mol’s presence and activities in Norway at the centre of this.

He said: Mol purchased a company engaged in oil exploration and exploitation in Norway in 2015, and by now Mol has 21 exploration and exploitation licences in Norway, representing the doubling of the company’s exploration portfolio. Mol looks upon Norway as the centre of its Northern operations, and investments worth some USD 500 million will be made by the company in Norway in the next five years in order to make its exploration and exploitation activities successful, he said.

The Minister stressed: Norway will play an important role during the period to come from the respect of Hungary’s energy security as well. Hungary purchased gas from Norway already in 2016, and the conditions of this cooperation appear to be such that it is worth keeping Norwegian gas in the Hungarian gas procurement portfolio. Consequently, the gas to be purchased from Norway in the future will contribute to Hungary’s energy security, he pointed out.

Mr Szijjártó highlighted: in the field of economic cooperation, cooperation between the health insurance systems of the two countries, the treatment of Norwegian patients in Hungary, and an increase in Hungarian food industry exports will be the two key areas which both governments will intend to lay more emphasis on in the future.

(MTI)