Export Finance Norway (EKSFIN)

Modified on: Mon, 10 Jul, 2023 at 2:10 PM


You may contact EKSFIN, if gas is supplied directly or indirectly from a gas supplier with license to operate on the Norwegian continental shelf. 

A list of license holders is published on www.norskpetroleum.no/en/facts/companies-production-licence/

Eksfin, a governmental agency under the Royal Norwegian Ministry of Trade, Industry and Fisheries, is authorized to manage loan and guarantee schemes on behalf of the Norwegian government.

In the context of the AggregateEU platform, Eksfin may provide cover for credit risk:

(a) by way of counter-guaranteeing payment obligations of gas buyers and/or issuing banks under letter of credit arrangements, including standby letter of credit arrangements; and

(b) by short term credit insurance to gas sellers for the payment obligations of gas buyers domiciled in Albania, Bosnia and Herzegovina, Kosovo, North-Macedonia, Georgia, Moldova, Montenegro, Serbia or Ukraine.

Maximum cover from Eksfin under letter of credit/standby letter of credit arrangements will be 75% of the financial exposure of the relevant creditor (issuing bank and/or advising bank). Maximum cover under short term credit insurance will be 90% of the payment obligations of the relevant gas buyer.

Pricing from Eksfin will be market based in all transactions. Complexity and timing of case handling will depend on reliable and validated credit information, where applicable, on the relevant debtor/obligor, possible need for securities, etc. In the case of letter of credit/standby letter of credit arrangements we will need full access to the counter-guaranteed banks’ terms. Normal banking procedures regarding “know your customer” and compliance with anti-corruption, anti-money laundering, sanctions and sustainability will apply. Gas sellers, gas buyers and their banks may approach Eksfin for a discussion on possible solutions on a case by case basis.

How to Contact EFSKIN

Applications can be filed at www.eksfin.no/en/application-forms/

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