§ Baroness Whitakerasked Her Majesty's Government:
What is the agreement in law made between the pipeline consortium led by BP and the Governments of Azerbaijan, Georgia and Turkey in respect of the pipeline from Bake to Cayman when they conflict with domestic, environmental or human rights laws, given that the Export Credits Guarantee Department may underwrite the agreements. [HL4249]
§ Lord Sainsbury of TurvilleThe Governments of Azerbaijan, Georgia and Turkey have entered into an intergovernmental agreement (IGA) with each other. The three governments have entered into host government agreements (HGAs) with the consortium, BTC Co.
All three governments have enacted the HGAs into their respective domestic law. Her Majesty's Government and their legal advisers are reviewing the HGAs.
No decision on ECGD cover has been taken. ECGD cover would only be given to any UK exporters and investors involved in this project if the department were satisfied that the relevant environmental, social and human rights impacts had been properly addressed, and that the financial and project risks were acceptable.