NOF Energy, the business development organisation for oil, gas, nuclear and offshore renewables sectors, has teamed up with UK Export Finance to support supply chain companies’ international trade ambitions.
The partnership between NOF Energy and UK Export Finance (UKEF) is designed to increase awareness among supply chain companies to further develop the UK’s international trade activity, NOF Energy informed.
UKEF is the UK’s export credit agency and a government department, working alongside the Department for International Trade to support British exporters.
Working with NOF Energy, UKEF can offer specialist export finance and insurance to companies in the energy sector, as well as face-to-face guidance through its network of export finance advisors based across the UK, according to NOF Energy.
Richard Simon-Lewis, Head of Civil, Infrastructure and Energy at UK Export Finance, said: “Our mission is to ensure that no viable UK export fails for lack of finance or insurance, and the energy sector is one in which the UK has significant expertise that is in high demand in international markets.”
UKEF has already provided £586 million worth of support for exports in the energy sector between April 2015 and March 2016.
Joanne Leng, Deputy Chief Executive at NOF Energy, added: “The innovation and experience of the energy sector supply chain has earned it a strong reputation in global markets, which opens doors for British companies. However, finance can be an issue for SMEs when building their export business, but the support of organisations such as UKEF can enable companies to compete on an international stage.”