Fossil Fuels: Loan Guarantee Scheme

HM Treasury written question – answered on 20th January 2017.

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Photo of Callum McCaig Callum McCaig Shadow SNP Westminster Group Leader (Energy and Climate Change)

To ask Mr Chancellor of the Exchequer, what progress has been made on the delivery of loan guarantees to companies operating in the oil and gas sector.

Photo of David Gauke David Gauke The Chief Secretary to the Treasury

The Government is willing to consider proposals for using the UK Guarantees Scheme for infrastructure where it could help secure new investment in assets of strategic importance to maximising economic recovery of oil and gas.

Any proposals would also need to meet the existing criteria of the scheme, including in relation to commerciality and financial credibility. For commercial reasons, the Government cannot provide an ongoing commentary on any discussions in this area.

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