Technip Energies forms UAE JV
SUMMARY
The new joint venture will be headquartered in Abu Dhabi.
By Callum CyrusPOSTED IN:
NT Energies has been established as a joint venture of France's Technip Energies and National Petroleum Construction Company (NPCC) in the UAE to foster energy transition projects including in the fields of hydrogen and CO2 capture, Technip said on July 19.
The new joint venture will be headquartered in Abu Dhabi, providing "added value services" related to blue and green hydrogen, as well as "related" decarbonisation initiatives. It comes as France and UAE have entered a strategic cooperation agreement, which also includes a cooperation deal between ADNOC and TotalEnergies.
Technip expects the venture to also branch into oil and gas services at upstream facilities, as well as direct-to-heavy industry offerings, like converting industrial waste into energy, and turning renewable feedstocks into biofuels.
NPCC is a subsidiary of UAE's National Marine Dredging Company. The CEO, Yasser Zaghloul, believes the new partnership will support UAE's energy transition and decarbonisation objectives. "This agreement with Technip Energies opens up new opportunities for sharing expertise in the field of sustainable energy and aligns with our expansion plans and ongoing search for new ways to strengthen global partnerships in line with our strategic vision of continuous growth," he said.
Arnaud Pieton, CEO of Technip Energies, said: "This partnership with NPCC marks a new milestone in our journey to accelerate the energy transition and limit climate change.
"We are very proud to have signed this agreement with such a recognised leader and long-standing partner with whom we have delivered many key energy projects.
"By sharing the experiences, capabilities, and know-how of our companies, we are confident that NT Energies will be able to rapidly bring to life the energy transition infrastructures that the UAE and MENA region require both domestically and for exports, particularly in the areas of power to gas, blue/green hydrogen and ammonia, CO2 management, sustainable fuels and circularity."
