(Reuters, Moscow, 8 December 2021) Russia's Amur Gas Chemical Complex (Amur GCC) has secured $9.1 billion in loans maturing in 2035, Sibur, which co-owns the plant with China's Sinopec, said in a statement on Wednesday. International banks will provide $2.6 billion for the Amur GCC with...
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(Reuters, Moscow, 30 November 2021) Russian gas producer Novatek (NVTK.MM) said on Tuesday its Arctic LNG 2 plant has signed loan agreements with foreign and Russian banks worth 9.5 billion euros ($10.8 billion), securing necessary external financing for the project. Earlier this year, Novatek...
more(Reuters, Washington, 10 December 2021) The Biden administration has ordered U.S. government agencies to immediately stop financing new carbon-intensive fossil fuel projects overseas and prioritize global collaborations to deploy clean energy technology, according to U.S. diplomatic cables seen...
more(Reuters, London, 7 December 2021) – A legal challenge by Friends of the Earth against the British government will be heard on Tuesday in the High Court seeking to block a $1.15 billion financing for a Liquefied Natural Gas (LNG) project in Mozambique, the environmental activist group said on...
more(Guardian, London, 13 November 2021) A new alliance of financial institutions is committed to funding the changes necessary to avert climate catastrophe. Alliance Chair Mark Carney notes that six years ago, in Paris, countries reached an historic agreement to limit the global temperature rise...
more(Global Trade Review, London, 24 November 2021) Seven European countries have pledged to promote reforms and encourage green incentives in the export credit sector, but dashed campaigners’ hopes that they would axe public finance for fossil fuels more quickly than the end of 2022 deadline set...
more(Oil Change Int'l/FOEUSA, Washington, October 2021) This 36 page reprort documents how G20 countries and the multilateral development banks (MDBs) they govern in 2018-2020 provided at least US$63 billion per year in international public finance for oil, gas, and coal projects. This fossil fuel...
more(Politico, Glasgow, 4 November 2021) The United States, the U.K. and some 20 other countries and financial institutions pledged on Thursday to stop public financing for most overseas oil and gas projects by next year, though the agreement included wide latitude for participants to set their own...
more(Friends of the Earth Japan, Tokyo, 29 October 2021) The Japan Bank for International Cooperation (JBIC), a public financial institution fully owned by the Government of Japan, announced in a press release today that it has decided to provide up to US $850 million for the LNG Canada Project....
more(PUNCH Nigeria, Lagos, 24 October 2021) The £1.5bn financing set aside for Nigeria by the UK Export Finance, the United Kingdom government’s export credit agency, has remained largely untouched, the UK Government Department for International Trade, Nigeria has said at the 2021 Energy...
more(Offshore Enginer, New York, 22 October 2021)Italy's biggest banking group Intesa Sanpaolo could help fund Novatek's Arctic LNG 2 project even as some European governments show lukewarm support for the giant Russian gas project. Antonio Fallico, chairman of group unit Banca Intesa Russia, told...
more(Oil Change International, Washington, 22 October 2021) Today the OECD Export Credit Group announced new restrictions on its...
more(Peterborough Examiner, 18 October 2021) The federal government has no plans to immediately stop Crown corporations from financing fossil fuel companies, but it’s not ruling out pushing them to reduce those supports more quickly, says Canada’s environment minister. The issue of public financing...
more(ECA Watch, 27 October 2021) We can’t solve the climate crisis if export credit agencies (ECAs) continue to bankroll fossil fuels. Tell the governments behind these agencies to immediately end all export credit and other public financial support for oil, gas and coal.
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INTERNATIONAL PRESS RELEASE
Governments worsen climate crisis with USD billions in export finance
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