The Embassy of Hungary organized its first in-person VIP event since the breakout of the COVID-19 pandemic on July 1, 2020, on energy security. The event organized by Ms. Dóra Zombori, Hungarian Chargé d’Affaires at the Hungarian Ambassador’s Residence, was attended by A/S Philip Reeker, DoS; DAS Matt Palmer, DoS; DAS Matt Boyse, DoS; DAS Kurt Donnelly, DoS; DAS Andrea Lockwood, DoE; Director Ricky Gill, NSC; Dr. Jay Carafano, The Heritage Foundation. From Budapest, Energy Commissioner Pál Ságvári and Political Director István Balogh joined via VTC from the Hungarian Ministry of Foreign Affairs and Trade.
The event covered Hungary’s recent steps to ensure energy independence, such as booking the majority of the available capacity in the first 10 years of the Krk LNG Terminal. The discussion focused on the measures needed for more synergy between the European efforts and their American counterparts. Topics covered U.S. and Hungarian energy policy goals; DoE’s P-TEC project, where Hungary co-chairs the Energy Efficiency Working Group; private and public investment in the region, and the need for continued U.S. presence in regional energy diversification efforts, such as the Neptun project. The participants reaffirmed their joint support for the Three Seas Initiative (3SI) and their investment decision in the 3SI Investment Fund, following the successful virtual Ministerial Conference on June 30. The United States, through the U.S. International Development Finance Corporation, has committed to investing up to $1 billion toward 3SI energy projects, and welcomed the investments to the Fund announced by Hungary and other Member States.