Siemens will create a company that is committed to energy transformation in Mexico

It is expected to boost the country's energy transformation towards a new cleaner, more efficient and more profitable model, implementing state-of-the-art technology for the efficient exploitation and distribution of hydrocarbons.

With this, it is expected to promote the country's energy transformation towards a new cleaner, more efficient and more profitable model
With this, it is expected to promote the country's energy transformation towards a new cleaner, more efficient and more profitable model

The German Siemens consortium announced the creation of a new multinational company in the energy sector, which is interested in supporting the energy transformation of Mexico and the digitalization of its oil and gas industry.

"This is a new company in the energy market, which will have a turnover of 30,000 million euros and more than 80,000 employees" worldwide, will also address both conventional and renewable energy, the company said in a statement.

With this, it is expected to promote the country's energy transformation towards a new cleaner, more efficient and more profitable model, where the digitization of the sector is one of the priorities for achieving greater productivity, and implementing state-of-the-art technology for the efficient exploitation and distribution of hydrocarbons.

The company reaffirmed its commitment as an ally of Mexico and stressed that this year marks 125 years of its start of operations in Mexican soil.

The new company, which still has no name, will start operations in 2020 and will be integrated by the Gas & Power and Siemens Gamesa divisions; In addition, it is planned to be taken to the German stock exchange in September next year.

Patrice Laporte, vice president of Siemens Oil & Gas Americas, opted for the long-term future of gas as a source of clean and profitable energy, in addition to the coexistence of fossil fuels and renewable energy.

"An ecosystem in which all processes interact to meet demand and significantly improve productivity and even have a positive impact on the quality of life of society," said Laporte.

The new company, which will now manage all of Siemens' power, oil and gas operations, will be independent since it will have its own management board, consortium executive director Joe Kaeser announced last May.

Although Siemens Gamesa Renewable Energy will transfer 59% to the new company, in which it will renounce having a majority stake, it will remain as the main shareholder, with a share of just under 50%.

According to Siemens, the new company will integrate a portfolio for the entire value chain of the energy sector, from fossil fuels to renewable energies.

By Agencies