Digital is a key driver for the energy industry’s transformation and decarbonisation

The digital transformation of the energy industry is accelerating on the back of the energy transition. Both transitions impact and feed each other.

Digital transformation is accelerating

Today, digital is more than a driver for efficient operations. It is a necessity to make sustainable changes in the way we operate, broaden opportunities and support new business models. 

How do we address decarbonisation at scale in a sector such as LNG, industrialise new energy sources like floating offshore wind or connect the dots across various industries to enable the circular economy? 

One key to success lies in our ability to capture and connect data and leverage its full value in the right collaborative environment. 

It is much easier to transition to new energy solutions when your business is already digitalised. That’s not fully the case in the energy industry. Prioritising today’s investments in digital technologies allows us to deliver new energy projects faster and derisk investments. We have a unique opportunity to be digital by design as we develop new energy solutions. 

Increasing efficiency and driving growth

Adoption of digital technologies has helped companies become more efficient with more gains still possible. Digital has enabled us to do things that were previously impossible such as advanced data visualisation, remote collaboration, traceable data exchanges and development of what-if scenarios with digital twins. 

Digital technologies also are enabling new services that use data as the primary input from energy solution design optimisation to predictive maintenance. As an engineering and technology company, Technip Energies creates digital value along those two axes.

We are digitalising project execution from conceptual to execution to reduce cost, time and risk. Our proprietary SPEED methodology can reduce man hours on engineering related activities by up to 30%. We also are developing and monetising new digital services that support our clients in their transition journey. We offer solutions along the full lifecycle, leveraging our core expertise combined with data technologies. For example, our Spyro Asset Management tool is driving efficiencies with our ethylene process technology during the life of plant, including emission monitoring.

What is the digital value beyond efficiency and additional revenue streams?  

Digital is a key enabler for a carbon neutral future. 

The most important axis of development for Technip Energies is to support carbon conscious choices during appraisal, conceptual, execution and operational phases. Our carbon footprint is becoming a key decision criterion for clients along with CAPEX, OPEX and schedule. We also are becoming more selective in choosing opportunities that align with our ESG goals and strategic ambitions. For instance, our GenCatTM solution enables our clients to assess multiple economics scenarios associated with carbon impact to define the best energy solutions.

For decades, operators have invested in monitoring tools to optimise plant performance and minimise downtime. Our focus now is to offer digital solutions to minimize emissions during operations of our clients’ facilities. 

How to get there

To achieve digital transformation and the energy transition, collaboration is key. We need to join efforts and combine skillsets and talents to tackle future challenges at the required pace. Since the creation of Technip Energies earlier this year, numerous partnerships have been formed to accelerate this transition. 

On one hand, we focus on rapidly improving productivity with digital solutions to deliver projects more efficiently and inspire our employees. Innovation also is about making employees’ lives easier and allowing them to spend more time on high added-value tasks. On the other hand, we relentlessly explore new technologies such as carbon-free hydrogen. And our business models are evolving with smaller size projects that call for productisation, new data driven services via platforms and many new entrants in the energy industry. 

The transformation of our industry is a great opportunity for all. At Technip Energies, we are upskilling and reskilling our workforce to embrace the energy transition and digital topics. We also are hiring talent from other industries as more and more employees want to apply their skills in companies that are shaping the future. Technip Energies is one. 

The future of the energy industry will be greener and more digital. Technip Energies is committed to driving the pace of these two critical and intimately linked transformations to deliver a cleaner and better tomorrow.