The United Kingdom has recently declared that it will stop support and funding to any new oil, gas and coal projects on the 5
th anniversary of the Paris Agreement. While this is a setback, we must continue to be unwavering in our commitment to stand up for Africa’s energy sector, its workers, energy poverty and those free-market values that will make our continent attractive to committed energy investors.
The decision follows, among others, opposition to the recently announced support of the UK Export Finance’s (UKEF) for Total’s 12.88 mtpa Mozambique LNG export terminal in Cago Delgado. It is troubling that an aggressive foreign-funded anti-African energy campaign continues to undermine the potential of making Mozambique an oasis for gas monetization and meeting our increasing energy demands.
The UK s decision to halt funding for new oil & gas projects is ill-founded and counter productive - Energy Industry Today
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UK Government to end support for overseas fossil fuel projects
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Oil Change International
FOR IMMEDIATE RELEASE
UK announces end to overseas fossil fuel finance, now other governments must follow suit
The United Kingdom’s prime minister, Boris Johnson, will commit to end the UK’s overseas fossil fuel financing “as soon as possible” at the Climate Ambition Summit. The phase-out of oil, gas, and coal financing applies to aid funding, trade promotion and export finance provided by UK Export Finance (UKEF), the institution that has come under scrutiny for its USD 1 billion investment in a controversial LNG project in Mozambique and for considering to finance the equally controversial East African Oil Pipeline. In response,
Britain to stop backing overseas oil, gas projects
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