Talks start on Oman crude, gas imports

Experts and companies have started talks on importing natural gas and crude oil from Oman to Hungary, the Hungarian minister of foreign affairs and trade said on Thursday, after meeting his Omani counterpart, Sayyid Badr Albusaidi.

At a joint press conference after the meeting, Péter Szijjártó warned of the dangers of slapping price caps on crude oil and natural gas in the European Union.

Such a measure would harm supply security, investments into new energy resources would be delayed and prices would grow, Szijjártó said. “Instead, we would need to increase the production of fuels worldwide to curb prices and to ensure supply security,” he said.

Hungarian oil and gas company Mol and Oman’s state oil company have built a strategic partnership over the past years, and they are in talks on launching joint trainings, on the manufacturing of sustainable fuels and on implementing Hungarian technology, he said.

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Oman, which is currently producing over one million barrels of crude daily, is working to become the world’s primary green hidrogen producer, an opportunity for Hungarian companies, Szijjártó said.

An agreement on investment protection between Oman and Hungary is now in force, and a mixed economic committee will also meet soon, while Oman is also planning to open an embassy in Hungary, he said.

The two ministers signed a cooperation agreement on diplomatic training and water management, and Hungary is offering 50 grants for Omani students wishing to study in the country, Szijjártó said.

Szijjártó called on the EU to scrap visa requirements for Omani citizens.

In response to a question, Szijjártó warned of “politicising” the issue of energy supplies. Hungary’s government sees diversification as a process of “involving as many resources as we can, rather than excluding others,” he said.

“The excellent experts in Brussels and Budapest who are trying to spin energy supply as a political issue are either living in a dream world or have an interest in shaking Hungary’s energy security,” he said.

On another topic, Szijjártó rejected the notion that Hungary was pursuing “veto politics”. “We support the [EU] decisions in line with Hungary’s interests and reject those opposing them,” he said.

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Source: MTI