The Emirati NPCC and the French Technip Energies create a joint venture to support the energy transition
The UAE-based National Petroleum Construction Company has signed an agreement with French engineering technology company Technip Energies to create a joint venture that will focus on energy transition.
The agreement was signed on Tuesday on the sidelines of President Sheikh Mohamed’s visit to Paris, during which the UAE and France also signed a comprehensive strategic energy partnership.
Based in Abu Dhabi, the new joint venture, NT Energies, will support the energy transition in the United Arab Emirates and the wider Mena region by providing value-added services in the sector of blue and green hydrogen, decarbonization projects related and carbon dioxide capture, said NPCC, a subsidiary of the National Marine Dredging Company.
NT Energies will also focus on industrial projects in the areas of energy recovery from waste, biorefining, biochemistry, as well as other topics related to energy transition.
The move will support “energy transition and decarbonization in line with the UAE’s strategy to take positive and effective action on climate change to secure a decarbonized future,” said Yasser Zaghloul, group managing director at the National Marine. Dredging Company.
“This agreement with Technip Energies opens new opportunities for sharing expertise in the field of sustainable energy and aligns with our expansion plans and our continued search for new ways to strengthen global partnerships in line with our strategic vision. continuous growth.”
The United Arab Emirates is stepping up its efforts to achieve its goal of reaching net zero emissions by 2050 through a far-reaching green strategy focused on switching to renewable energy and using new technologies, which will help reduce carbon emission levels.
The country plans to invest Dh600 billion ($164 billion) in clean and renewable energy sources over the next three decades to achieve its ambitions.
A big emphasis is placed on hydrogen. The UAE aims to capture around 25% of the global hydrogen market share and is in talks with many countries to export it, Energy and Infrastructure Minister Suhail Al Mazrouei said earlier this year. year.
Last month, Abu Dhabi’s Department of Energy also said it was developing a hydrogen policy with new regulations and standards, and aimed to become a “leader in the international hydrogen market”. as the demand for clean fuel increases around the world.
“The new joint venture aims to promote a culture of sustainability and supports environmental best practices in light of our government’s commitment to moving towards clean energy sources,” said NPCC Director General Ahmed Al Dhaheri.
The company will also provide onshore and offshore oil and gas services, construction and energy efficiency services, oil tank installations and repairs, as well as the installation, maintenance and manufacturing of equipment. alternative energy.
It will also offer oil and gas facility advisory services and alternative energy engineering consultancy and research.
“We are convinced that NT Energies will be able to quickly implement the energy transition infrastructures that the United Arab Emirates and the Mena region need, both on the domestic market and for export, particularly in the fields of power to gas, blue or green hydrogen and ammonia, [carbon dioxide] management, sustainable fuels and circularity,” said Arnaud Pieton, CEO of Technip Energies.
“Our collaboration will help further develop local skills, increase value in-country, and cooperate to remove barriers to designing a sustainable future.”
As part of the strategic energy partnership signed between the UAE and France, the two countries will focus on boosting energy security, affordability and decarbonization, and progressive climate action ahead of COP28, which is expected to have take place in the United Arab Emirates in 2023, state news agency Wam reported. .
During Sheikh Mohamed’s visit, Abu Dhabi’s Adnoc also signed a strategic partnership agreement with TotalEnergies.
Updated: July 19, 2022, 9:50 a.m.