Technip and NPCC create joint venture for hydrogen in MENA
France's Technip Energies and Abu Dhabi's National Petroleum Construction Company (NPCC) signed a preliminary agreement to form a joint venture to collaborate on projects related to blue and green hydrogen in the Middle East and North Africa (MENA).
Technip's partnership with NPCC, a subsidiary the National Marine Dredging Company, will enhance cooperation in blue and green hydrogen, and other decarbonisation projects, the companies said in a joint statement.
They added that they will jointly work on carbon capturing opportunities in energy transition and industrial projects.
The cooperation will also provide the “financial strength for providing solutions to accelerate the transition towards a low-carbon society”, said Arnaud Pieton, Chief Executive of Technip Energies.
The UAE, which is a member of Organization of the Petroleum Exporting Countries (OPEC), plans to invest Dh600 billion (US $163,48bn) by 2050 into growing its renewable energy.
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