PARIS--(BUSINESS WIRE)--Mar. 25, 2021-- Technip Energies (PARIS:TE), a global leader in engineering & technology for the energy industry and its transition, and NIPIGAS, a Russian leader in engineering, procurement and construction management, are announcing their intention to create NOVA ENERGIES, a joint venture (JV) to drive the energy transition journey in Russia. The heads of terms agreement defining the path forward was signed today by Arnaud Pieton, Chief Executive Officer of Technip Energies and Dmitry Evstafiev, Chief Executive Officer of NIPIGAS.
This new joint venture will provide a wide range of expertise, including Engineering and Design, Project Documentation and CAPEX estimates ("FEED/PD") as well as Engineering, Procurement, Construction, Installation, and Commissioning (“EPC/EPCm”) for CO2 removal, Carbon Capture, clean H2 production, Bio Energies, Bio Refineries, Bio Chemistry, Ammonia, as well as other energy transition related themes.
NOVA ENERGIES will be a full-fledged independent player on the Russian market for the long-term period. The JV will include Technip Energies and NIPIGAS personnel, who will bring their respective areas of expertise and support, with the aim of becoming the “best in class” engineering and technology company for the energy transition in Russia.
Arnaud Pieton, CEO of Technip Energies stated: “Technip Energies leverages vast experience and expertise developed over six decades of working on the transformation of traditional energies. Smart Engineering is needed to break boundaries and accelerate the journey to a low-carbon society. By combining our efforts and know-how with Nipigas, we will enable our clients in Russia to reach their energy transition targets. 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 carbon-free solutions to build a better tomorrow.”
Dmitry Evstafiev, CEO, NIPIGAS declared: “The general global trend for decarbonization has become one of the key factors in the modernization of existing and creation of new industries in Russia. With the participation of NIPIGAS, the best environmentally friendly and safe design solutions are implemented, corresponding to the best world standards within the framework of the country's largest projects. We want to strengthen our technological leadership to continue to offer customers solutions through our joint venture with Technip Energies that meet the requirements of tomorrow, looking for opportunities to expand and deepen this practice. Therefore, partnership with the world leader in the field of new energy, the so-called “energy transition” is of course, extremely important for us and in many ways a strategic direction.”
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.
NIPIGAS is a leading Russian engineering company. NIPIGAS is engaged in design and engineering, procurement, logistics and construction management in all petroleum market sectors. Company has been involved in the major investment projects in Russia. NIPIGAS is a top 100 world largest engineering and construction company according to ENR (The Top 250 Global Contractors, 2020). Moreover, according to company data submitted for ENR-2020 ranking, NIPIGAS is a top 10 engineering and construction company in terms of services provided in petroleum sector.
This release is intended for informational purposes only for the shareholders of Technip Energies. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.
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For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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Source: Technip Energies