Technip Energies, the engineering company with a leadership positions in liquefied natural gas as well as hydrogen and ethylene projects has signed an agreement to set up a joint venture firm with National Petroleum Construction Company (NPCC) of the United Arab Emirates.
The accord was signed in Paris during the state visit to France of the UAE leader Sheikh Mohammed Bin Zayed Al Nahyan.
The signing was witnessed at a ceremony attended by UAE Foreign Minister Abdullah bin Zayed Al Nahyan and France’s Minister for Europe and Foreign Affairs Catherine Colonna.
The new company headquartered in Abu Dhabi, the LNG producing emirate of the UAE, is called NT Energies LLC and will concentrate on new energy solutions such as carbon capture. though will also be involved in providing onshore and offshore oil and gas field and facility services for storage, installation and repairs and maintenance.
The agreement was signed by NPCC Chief Executive Ahmed Al Dhaheri and Arnaud Pieton, CEO of Technip.
The new company NT Energies aims to support energy transition in the UAE, the broader Middle East region and North Africa by providing added-value services .
These would include blue and green hydrogen and related decarbonization projects, carbon-dioxide capture in addition to industrial projects in the fields of waste-to-energy, biorefining and biochemistry.
Technip has been involved in the gravity-based structure-one modules for Arctic LNG II in the Gydan Peninsula.
The project led by Russian company Novatek contributed €445.4 million of revenues to Technip in the first quarter of 2022.
Technip is additionally working on the US Sempra Infrastructure-led Costa Azul Mexican LNG export project on the Pacific Coast as well as Greater Tortue Ahmeyim floating LNG projects offshore Senegal and Mauritanian waters in West Africa.
“We are very proud to have signed this agreement with such a recognized leader and long-standing partner with whom we have delivered many key energy projects,” said Arnaud Pieton, CEO of Technip Energies.
The parent company of NPCC is the National Marine Dredging Group in the UAE and its CEO Yasser Zaghloul said the deal reaffirmed the commitment of NPCC to support decarbonization in line with the UAE’s strategy.
“This agreement with Technip Energies opens up new opportunities for sharing expertise in the field of sustainable energy and aligns with our expansion plans,” stated Zaghloul.