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Liquefied Natural Gas: Mozambique

Question for Department for International Trade

UIN 73782, tabled on 14 July 2020

To ask the Secretary of State for International Trade, whether UK Export Finance is contributing to the agreed financing contracts for the Mozambique LNG Project; what the value is of export credits granted to that project; and if she will make a statement.

Answered on

20 July 2020

UK Export Finance (UKEF) has agreed to provide up to US$1.15bn of export finance support for UK exporters, as part of the design, construction and operation of a liquified natural gas (LNG) project in Mozambique. UKEF support is in the form of up to $300m of direct loans, and up to $850m in guarantees to the commercial banks providing lending.

The UKEF-supported element will support multiple UK businesses across the UK, including small and medium-sized enterprises, and in excess of 2,000 UK jobs.

The Project will generate significant revenue for Mozambique and be transformational for Mozambique’s economic and social development.

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