Fossil Fuels: Export Credit Guarantees

(asked on 6th January 2021) - View Source

Question to the Department for International Trade:

To ask the Secretary of State for International Trade, pursuant to the answer of 18 November to Question 91998 on Fossil Fuels: Export Credit Guarantees, whether UK Export Finance is considering support for these projects following the Prime Minister's announcement of 12 December that the UK will end support for fossil fuel sector overseas.


Answered by
Graham Stuart Portrait
Graham Stuart
Minister of State (Department for Energy Security and Net Zero)
This question was answered on 15th January 2021

On 12 December 2020, the Prime Minister announced that the British government will no longer provide any new direct financial or promotional support for the fossil fuel energy sector overseas. This policy will be implemented as soon as possible following the conclusion of the consultation process that was also launched on 12 December.

During the consultation period and ahead of the implementation of the new policy, the government will continue to apply current policy for all in-scope activities including proposals for high carbon projects, with consideration of relevant factors including climate change.

With regard to the East Africa Crude Oil Pipeline, I refer the hon. Member for Portsmouth South to the responses I gave to the Hon. Member for Edmonton on 2 December 2020, UIN:120945, and 8 December 2020, UIN:122815. UK Export Finance (UKEF) has been approached on the project referred to, and no decision has been made. It is not UKEF policy to comment on potential transactions for reasons of commercial sensitivity.

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