Neptune Energy has appointed Pierre Girard as the director of the newly-created New Energy arm, which will focus on work to scale partnerships and investments in low-carbon technologies, particularly hydrogen, carbon capture and storage, and electrification.
Girard is currently director of commercial and joint ventures in the UK, and previously held the role of interim managing director of Neptune’s UK business.
David Hemmings, vice president of business development and commercial, said: “Neptune is well positioned to play a role in the energy transition. Our differentiated, long-life, low cost and lower carbon intensity portfolio enables us to generate value, even in a lower price environment.
“Our creation of a New Energy team and increased focus on ESG will enable us to increase the role we play in the energy transition, by scaling-up partnerships and investment in hydrogen, CCS and offshore electrification to further reduce carbon emissions.
Neptune in August announced the formation of a New Energy team, when it also said it started working on a resilience plan to achieve cost savings of between $300 million and $400 million over 2020.
Last month, the private equity-backed operator said it now sees a possibility of seeking a public listing in 2021 if market conditions continue to stabilise and recover.
Neptune — which bought French utility Engie's upstream assets in a $3.9 billion deal in February 2018 — is backed by US private equity groups Carlyle Group and CVC Capital Partners and Chinese sovereign wealth fund China Investment Corporation.