More details have emerged about the visit to Norway and its £470 billion soveregn oil fund by Fergus Ewing, Scottish Energy Minister.
During his two-day visit to Oslo last week, the Minister said that Norway is a ‘great example of how, by using the powers of independence, it has not only developed a very strong energy sector, but via its oil fund has used its energy wealth to benefit the whole country’.
He also used his speech at the Holmenkrollen 2014 Thought Leaders Summit to stress that ‘it is ‘only with the full powers of independence that Scotland’s energy potential can be released’. He said:
“The Norwegians established their oil fund in 1990, the first net investment was modest and not made until 1996. Now, however, the Norwegian oil fund is now the largest sovereign wealth fund in the world, worth around £470 billion (the equivalent of £90,000 per Norwegian head). This is something we can strive towards in an independent Scotland.”
Today Scottish Energy News can reveal that Ewing met with representatives from Siemens Wind Power, Vestas Offshore and Statoil.
Additionally, he hosted a lunch with representatives from oil and gas companies including Apply Sørco, NorSea Group, FMC Technologies; DNV GL – which last year opened a new office in Glasgow – INTSOK and Statoil.
Jane Owen, Britain’s Ambassador to Norway, also attended the lunch and Ewing’s speech was also attended by a number of senior representatives from European energy companies and organisationsincluding E.ON, Statoil, Siemens, Vestas, GE, GWEC and the European Wind Energy Association.
For centuries, Norway was ruled by Danish and later Swedish kings before it voted for independence in 1905.
Miss Owen was educated at Ellerslie School in Malvern, and Trinity College, Cambridge (BA Hons in Russian, French and German). She was born in Bilston in the West Midlands