Written evidence from Schneider Electric (UEF0005)
UK Export Finance – Call for Evidence September 2020
- UKEF in the Oil & Gas sector is both professional and well informed on the industry. UKEF are as transparent as they can be and share market perspectives bilaterally to help parties move forward.
ECA Offerings to Oil & Gas
- UKEF’s product offerings are more attractive and flexible compared to those provided by other sovereign state ECAs
- UKEF’s product offering could be compared with the private commercial sector and UKEF has clearly changed to differentiate in the market by easing high country content often required by other European ECAs. Often a restrictive and difficult practice.
- UKEF appears to have strong support from HM Treasury and the risk appetite is appropriate for key mega projects
UKEF Market Engagement
- UKEF engage well in the market with the principals of major investment O&G organisations. UKEF is well informed of major O&G investments pre FID.
- An area for improvement could be stronger engagement with the EPC community in the UK to help build a case for greater UK content on International Projects – this would also help EPC players who often require to present ECA funding support.
- Perhaps greater collaboration with SMEs in O&G sector through the likes of EIC and other UK organisations would give UKEF greater access for their products into the SME market