UAE-based National Petroleum Construction Company signed an agreement with French engineering technology company Technip Energies to set up 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 energy transition in the UAE and the wider Mena region by providing value-added services in the blue and green hydrogen sector, related decarbonisation projects and the capture of carbon dioxide, said NPCC, a subsidiary of the National Marine Dredging Company.
NT Energies will also focus on industrial projects in the fields of waste-to-energy, biorefining, biochemistry, as well as other themes related to the energy transition.
The move will support “energy transition and decarbonisation in line with the UAE’s strategy to take positive and effective climate change actions to ensure a decarbonised future”, said Yasser Zaghloul, group chief executive at the National Marine Dredging Company.
“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.”
The UAE is stepping up efforts to hit its target to reach net zero emissions by 2050 through a wide-ranging green strategy focused on a shift to renewable energy and the use of new technology, which will help to reduce carbon emission levels.
The country plans to invest Dh600 billion ($164bn) in clean and renewable energy sources over the next three decades to achieve its ambitions.
A big focus is on hydrogen. The UAE aims to capture about 25 per cent of the global hydrogen market share and is in discussions with many countries to export it, Minister of Energy and Infrastructure Suhail Al Mazrouei said earlier this year.
Last month, the Abu Dhabi Department of Energy also said that 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 the clean fuel grows worldwide.
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The President, Sheikh Mohamed, leaves France after his official state visit. Photo: Presidential Court -
Sheikh Mohamed stands for the national anthem. Catherine Colonna, French Minister for Europe and Foreign Affairs, is also pictured. Photo: Presidential Court -
Sheikh Mohamed stands for the national anthems. Photo: Presidential Court -
Sheikh Mohamed bids farewell to Ms Colonna. Photo: Presidential Court -
Members of the French honour guard play the national anthem before Sheikh Mohamed's departure. Photo: Presidential Court -
President Sheikh Mohamed speaks to Emirati students and doctors studying in France. Seen with Shamma bint Suhail Al Al Mazrouei, UAE Minister of State for Youth, second right, and Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, fourth right. Photo: Presidential Court -
President Sheikh Mohamed with Emirati students and doctors, along with Shamma bint Suhail Al Al Mazrouei, Sheikh Hazza bin Zayed and Sheikh Mansour bin Zayed, UAE Deputy Prime Minister and Minister of the Presidential Court, fourth from left. Photo: Presidential Court -
President Sheikh Mohamed meets students and doctors. Photo: Presidential Court -
President Sheikh Mohamed greets Emirati students and doctors who are studying in France. Photo: Presidential Court -
Sheikh Mohamed, with Sheikh Zayed bin Mohamed, speaks to Catherine Colonna. Photo: Presidential Court -
Sheikh Mohamed arrives at Matignon Hotel in Paris to meet Prime Minister Elisabeth Borne. Chris Whiteoak / The National -
Sheikh Mohamed arrives at the Matignon to meet Ms Borne. Chris Whiteoak / The National -
Sheikh Mansour bin Zayed leaves Matignon hotel. Chris Whiteoak / The National -
President Sheikh Mohamed signs a guest book during a military ceremony at the Arc de Triomphe in Paris. Photo: Presidential Court -
Sheikh Mohamed stands at attention as the national anthems of the UAE and France are played at the Arc de Triomphe. Photo: Presidential Court -
The UAE President greets a members of the Unknown Soldier’s Torch Committee. Photo: Presidential Court -
Sheikh Mohamed lays a wreath at the Tomb of the Unknown Soldier. Photo: Presidential Court -
The UAE President meets Yael Braun-Pivet, sixth from right, President of the French National Assembly, in Paris. The senior UAE officials include Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court; Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation; Sheikh Hazza bin Zayed, Vice Chairman of the Abu Dhabi Executive Council; and Sheikh Hamed bin Zayed, managing director of Abu Dhabi Investment Authority and Abu Dhabi Executive Council Member. Photo: Presidential Court -
Sheikh Mohamed with Ms Braun-Pivet at the National Assembly Presidency Palace. Photo: Presidential Court -
Sheikh Mohamed is received by Ms Braun-Pivet during his state visit to France. Photo: Presidential Court -
The UAE President gives a speech during a dinner hosted in his honour by French President Emmanuel Macron at the Versailles Grand Trianon in Paris. Photo: Presidential Court -
Sheikh Mohamed is in France on his first overseas trip as UAE President. Photo: Presidential Court -
Sheikh Mohamed discussed the important role that France has undertaken in the Middle East and expressed his interest in continuing to work together to promote peace, stability and security across the region. Photo: Presidential Court -
Sheikh Mohamed, Mr Macron and France's first lady Brigitte Macron at the Versailles Grand Trianon. Photo: Presidential Court -
Sheikh Mohamed with French Senate President Gerard Larcher in Paris. Chris Whiteoak / The National -
The UAE President met Mr Larcher at Luxembourg Palace. Photo: Presidential Court -
Members of the UAE delegation attend the meeting at Luxembourg Palace. Photo: Presidential Court -
Sheikh Mansour bin Zayed, UAE Deputy Prime Minister and Minister of the Presidential Court; Sheikh Hamed bin Zayed, managing director of the Abu Dhabi Investment Authority and Abu Dhabi Executive Council Member; and Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, during the meeting at Luxembourg Palace. Photo: Presidential Court -
Sheikh Mohamed's decision to visit France on his first trip overseas as UAE head of state is considered highly significant and a recognition of the strength of ties between the two countries. Chris Whiteoak / The National -
Sheikh Mohamed and a delegation of ministers and senior officials began the day with a visit to the historic Les Invalides complex, home to the military museum. Chris Whiteoak / The National -
The UAE President then travelled a short distance to Luxembourg Palace. Chris Whiteoak / The National -
Mr Larcher said he was pleased to have the opportunity to discuss the Cop28 climate change conference, which will be hosted at Expo City Dubai in November 2023, and 'a lot about the energy issue, which is very important'. Chris Whiteoak / The National -
Sheikh Mohamed arrives at Luxembourg Palace in Paris. Chris Whiteoak / The National -
Sheikh Mohamed and Mr Macron watch as Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and managing director and group chief executive of Adnoc, and France's Energy Transition Minister Agnes Pannier-Runacher sign a comprehensive strategic energy partnership between the two countries. Photo: Presidential Court -
Sheikh Mohamed, Mr Macron, Dr Al Jaber, Ms Pannier-Runacher and France's Economy Minister Bruno Le Maire after the signing ceremony in Paris. Photo: Presidential Court -
Sheikh Mohamed holds talks with Mr Macron at Elysee Palace in Paris. Photo: Presidential Court -
Sheikh Mohamed is welcomed to Elysee Palace by Mr Macron. Photo: Presidential Court -
Sheikh Mohamed with Mr Macron and France's first lady Brigitte Macron after the UAE President's arrival at Elysee Palace in the French capital. Chris Whiteoak / The National -
The UAE leader warmly embraced Mr Macron on his arrival in Paris, describing him as a friend and his country as one of the Emirates' closest allies. Chris Whiteoak / The National -
During a private lunch, the two leaders reviewed new agreements that expand decades of partnership and collaboration between the UAE and France. Chris Whiteoak / The National -
Sheikh Mohamed spoke about the common interest that the UAE and France share in confronting climate change. Chris Whiteoak / The National -
A French guard of honour awaits the arrival of Sheikh Mohamed to Elysee Palace. Chris Whiteoak / The National -
The UAE President attends an official reception hosted by Sebastien Lecornu, France's Minister of Armed Forces, at the military museum in Paris. Photo: Presidential Court -
Sheikh Mohamed is accompanied by Mr Le Cornu as he inspects a guard of honour and meets officials at the military museum. Photo: Presidential Court -
The UAE President visited the tomb of Napoleon Bonaparte within the Dome des Invalides at the military museum. Photo: Presidential Court -
Sheikh Mohamed was set to meet top French officials during his two-day visit, including Prime Minister Elisabeth Borne and President of the National Assembly Yael Braun-Pivet. Photo: Presidential Court -
Sheikh Mohamed with Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, and Mr Le Cornu at the military museum. Photo: Presidential Court -
Sheikh Mohamed and Mr Le Cornu stand at attention as the two countries' anthems are played. Photo: Presidential Court -
The UAE President's motorcade arrives at the military museum. Photo: Presidential Court -
Emirati flags adorned the streets around Elysee and Luxembourg palaces. Photo: Presidential Court
“The new joint venture aims to promote a culture of sustainability and supports the best environmental practices in light of our government's commitment to moving toward clean energy sources,” said NPCC chief executive Ahmed Al Dhaheri.
The venture will also provide onshore and offshore oil and gasfield services, building and energy efficiency services, oil tank installations and repairs, as well as the installation, maintenance and manufacture of alternative energy equipment.
It will also offer oil and gas facilities consultancy services and engineering consultations on alternative energy and research.
“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 or green hydrogen and ammonia, [carbon dioxide] management, sustainable fuels and circularity,” said Technip Energies chief executive Arnaud Pieton.
“Our collaboration will help to further develop local competencies, increase in-country value and co-operate to break down barriers to engineer a sustainable future.”
Under the strategic energy partnership signed between the UAE and France, the two countries will focus on enhanced energy security, affordability and decarbonisation, and progressive climate action before Cop28, which is set to take place in the UAE in 2023, state news agency Wam reported.
During Sheikh Mohamed's visit, Abu Dhabi's Adnoc also signed a strategic partnership agreement with TotalEnergies.
