Question to the Department for International Trade:

To ask the Secretary of State for International Trade, whether she plans to reduce the number of oil and gas projects supported through UK Export Finance; and if she will make a statement.

UK Export Finance (UKEF) helps UK companies of all sizes and across all sectors to win, fulfil and receive payment for export contracts.

The UK’s oil and gas sector is a vital part of the UK’s economy, supporting around 300,000 jobs. UKEF’s support has helped to sustain UK jobs in a sector that has seen low investment due to fluctuating and reduced oil prices, but remains vital to the UK’s energy security.

Many businesses in the oil and gas industry are actively engaging with the transition to a low carbon economy, applying world-leading skills and expertise to offshore wind development. UKEF is well placed to support companies through this transition to a low carbon economy.