Abu Dhabi – Mubasher: National Petroleum Construction Company (NPCC), a wholly-owned subsidiary of National Marine Dredging Co (NMDC), has inked a Memorandum of Understanding (MoU) with France-based Technip Energies to form a joint venture to accelerate the energy transition in the UAE.

Signed at the Gastech 2021 conference, the agreement to enhance cooperation in blue and green hydrogen and related decarbonisation projects in the UAE and the MENA region, according to a press release on Wednesday.

Both companies will also focus on industrial projects across the fields of waste-to-energy, biorefining, biochemistry, and ammonia.

The joint venture will benefit from Technip Energies' project management capabilities and innovative solutions and from NPCC's skills for engineering, procurement, and construction (EPC) projects.

Commenting on the agreement, the CEO of Technip Energies, Arnaud Pieton, said: "This partnership will encompass the right mix of identification capability for concrete opportunities like CO2 capture, blue/green hydrogen and ammonia, technology know-how, technical capabilities, global and local execution experience, and financial strength."

Meanwhile, the CEO of NPCC, Eng Ahmed, commented: "This strategic MoU will not only accelerate our decarbonisation commitment but also support the nation's climate change action initiatives and the long-term sustainable development vision."