Paris-based Technip Energies is targeting energy transition project opportunities in Russia, by teaming up with local engineering, procurement and construction management player Nipigas.

ENERGY EXPLORED: SUBSCRIBE TO ACCELERATE

Gain valuable insight into the global oil and gas industry's energy transition from ACCELERATE, the free weekly newsletter from Upstream and Recharge. Sign up here today.

Technip confirmed this week the two companies had signed a heads of agreement to form a joint venture company called Nova Energies.

It added the new entity would be a “full-fledged independent player on the Russian market for the long-term period”, providing a wide range of services.

This will include engineering, procurement, construction, installation and commissioning for carbon dioxide removal, carbon capture, clean hydrogen production, bio energies, bio refineries, bio chemistry, ammonia and other energy transition related projects.

Technip added the joint venture would also provide engineering and design, capital expenditure estimates and project documentation services.

“By combining our efforts and know-how with Nipigas, we will enable our clients in Russia to reach their energy transition targets,” Technip chief executive Arnaud Pieton said.

“Through this joint-venture, Technip Energies will reinforce its energy transition positioning, leveraging its engineering expertise and technologies in hydrogen, sustainable chemistry, CO2 management and carbonfree solutions to build a better tomorrow.”

Technip said the main aim of Nova Energies was to become the “best in class” engineering and technology company for the energy transition in Russia.