Young, Hungarian Ambassador hold energy talks

ENERGY Minister Stuart Young held discussions with Hungarian ambassador to Trinidad and Tobago, Balázs Heincz, on energy-related matters of mutual interest.

A statement issued by the ministry said the meeting took place at its offices at Tower C of the Port of Spain International Waterfront Centre, on July 12.

The meeting was a continuation of discussions that Young held with Hungarian Foreign Affairs and Trade Minister Péter Szijjártó on April 17.

Those discussions included Europe’s gas diversification efforts and the role Trinidad and Tobago could play in Europe’s energy security.

At the July 12 meeting, Young highlighted Trinidad and Tobago's potential in LNG, ammonia, methanol, urea and UAN production.

He also provided an update on a particular project that the ministry is working on with European companies. The project looks at carbon reduction and explores the potential of gas supply. Details of this project were not provided.

Hungary currently holds the presidency of the Council of the European Union (EU).

The ministry said the council has been financing sustainable energy projects worldwide through its "global gateway" strategy.

This strategy is designed to boost smart, clean and secure links in digital, energy and transport sectors and to strengthen health, education and research systems across the world.

Between 2021-2027, this strategy will see EU mobilise up to €300 billion of investment for sustainable and high-quality projects, taking into account the needs of partner countries and ensuring lasting benefits for local communities.

Heincz updated Young on the progress of an EU-supported project which could amount to market and trade opportunities for Trinidad and Tobago.

No details were provided on this project either.