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How to Access Finance for Oil and Gas Projects

22-August-2019  

How to Access Finance for Oil and Gas Projects

The Federation of Indian Petroleum Industry (FIPI) joined hands with the British High Commission to organise ‘How to Access Finance for Oil and Gas Projects’ at Shangri La’s Eros Hotel, New Delhi. The objective of the event was to apprise the key decision makers from the Indian oil and gas industry with the easy financing options being made available by UK Export Finance (UKEF). The session was attended by Ms Rhiannon Harries, Deputy Trade Commissioner - South Asia, British High Commission (BHC); Mr Rahul Tabhane, India Head, UK Export Finance (UKEF); Mr Mohan Bhuyan, Business Development Adviser – Primary Markets - India at London Stock Exchange (LSE); and Ms Jennifer Fagan, First Secretary, Trade and Investment and Head of Energy Team, Department for International, Trade (DIT), BHC.



The Welcome address at the session was delivered by Mr Rajiv Bahl, Director - Finance Taxation & Legal, FIPI. Mr Bahl mentioned that over the last few years the Government policies and interventions have changed the face of the Indian petroleum industry. He underlined that to achieve the Hon’ble Prime Minister’s vision of a USD 5 trillion economy and to shift towards a gas based economy, the Indian oil and gas sector will require large scale investments. He pointed out that the petroleum sector in the country is already poised to invest in the upwards of INR 15 lakh Crores in the next five to ten years and for such large scale investments India will require low cost loans from foreign lending agencies. He further informed the audience that Indian oil and gas industry has been working closely with UKEF for a long time and looks forward to further this association.



Delivering the opening remark at the session, Ms Rhiannon Harries mentioned the close cultural ties that India and the UK share and she hoped that furthering the business association between the two countries will only further strengthen the relationship.



Mr Rahul Tabhane apprised the participants that UKEF is world’s oldest export credit agency and has over hundred years of experience in helping overseas buyers. He informed the participants with the various ways UKEF could help Indian businesses ensure that capital goods or services from the UK come with competitive terms of financing. Mr Mohan Bhuyan informed the participants of ways, in which the various financing instruments available with London Stock Exchange (LSE) can help Indian oil and gas companies raise easy funding for their projects.



Ms Jennifer Fagan delivered the concluding remarks and vote of thanks for this session. The session witnessed overwhelming participation from across the Indian Oil and Gas value chain. Many of the participants found the funding schemes offered by UKEF lucrative and seemed inquisitive to find out more about the scheme. The session concluded with a networking dinner for the participants.