Technip Energies, UAE form energy transition pact
French energy company Technip Energies said September 22 it signed a memorandum of understanding to support the energy transition in the UAE and elsewhere in the Middle East.
Technip signed the preliminary agreement with Abu Dhabi’s National Petroleum Construction Company (NPCC) on the sidelines of the Emirati’s Gastech conference.
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“The aim of this agreement is to explore and capitalise on this evolving opportunity and to provide added value services,” the French company explained. “Technip Energies and NPCC will create a joint venture to drive the energy transition journey.”
The memorandum follows a September 16 announcement that UK energy company BP signed agreements with the Abu Dhabi National Oil Co (ADNOC) and Emirati clean energy company Masdar that could lead to “billions of dollars” in clean energy and low-carbon investments.
The agreements BP reached envisage the development of 2 GW of low-carbon hydrogen production in the UK and in the UAE.
Technip said its strategic partnership in the Emirates could extend to the hydrogen colour spectrum, carbon capture and storage and other “related decarbonisation projects.”
“This partnership will encompass the right mix of identification capability for concrete opportunities like CO2 capture, blue/green hydrogen and ammonia, of technology know-how, technical capabilities, global and local execution experience and financial strength for providing holistic solutions to accelerate the transition towards a low-carbon society,” Technip Energies CEO Arnaud Pieton said.