The owners of Austre Adventfjord contacted the Ministry of Trade, Industry and Fisheries in January 2014, regarding whether the state would be interested in purchasing the property. Due to the property’s proximity to Longyearbyen and a wish to keep it on Norwegian hands, the Ministry concluded that they would purchase it.
- We are satisfied with both the buyer and the price, says attorney Erling O. Lyngtveit.
Austre Adventfjord is situated just north of Longyearbyen in Svalbard. The property is approximately 217.6 km2, which is about 0.35 percent of Svalbard’s total area.