“We are definitely in the initial phase," noted Davey, according to the Berlingske newspaper. "The check has not been signed yet. But this kind of energy infrastructure is enormously important, not least due to security of supply."

A number of other north European ministers were in attendance to discuss an integrated energy infrastructure linking the UK, Scandinavia, Germany, Poland, the Netherlands and the Baltic countries – a nearly $200bn project that would require heavy buy-in from pension funds and insurance companies.

But