Norwegian delegation to visit Sweden
A Norwegian government delegation headed by the Crown Prince and Princess will begin an official visit to Sweden today.
The royals will be joined by Foreign Minister Anniken Huitfeldt and Trade Minister Jan Christian Vestre, as well as a substantial Norwegian business delegation. The visit is intended to further both trade and environmental cooperation between the two countries, as well as to publicly shore up their close relations through cultural exchange. It will be the first visit from the new Labor government in Norway.
While there will likely be much talk about implementing environmentally sustainable policies during the visit, such discussions are unlikely to affect Norway’s substantial oil and gas production. Not only is Sweden—along with the rest of the European Union—a major consumer of Norwegian hydrocarbons, but Swedish energy companies secured several offshore oil and gas production licenses in an offer on January 18th.
As Norway is the largest European supplier of oil and gas, Sweden is likely to see increased trade ties as important to its economic security. Expect Sweden to continue aiding North Sea oil exploitation. Norway, similarly, is likely to ramp up hydrocarbon production further to meet the increased demands of Europe.
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