To ask the Secretary of State for International Trade, what steps he is taking to encourage oil and gas supply chain exports to Saudi Arabia.
13 January 2017
The Department for International Trade (DIT) supports the oil and gas supply chain through various mechanisms.
UK Export Finance (UKEF), the UK’s export credit agency (ECA), is strategically and operationally aligned with DIT and offers competitive finance and insurance packages to support UK-based companies of all sizes and across all sectors. In 2015/16 UKEF provided £586 million of support for exports in the energy industry.
DIT currently operates ‘High Value Campaigns’ (HVC’s) in Azerbaijan, Brazil, East Africa (Mozambique, Tanzania, and Uganda), India, Iraq, Kazakhstan, Mexico, Nigeria, Norway, Oman and Saudi Arabia.
The programme is reviewed on a regular basis. An assessment of a HVC for Iran is being considered as part of the business planning process for 2017/18. For markets not covered by HVCs, DIT staff offer help to UK companies on a case by case basis.