Technip, Paris, (NYSE Euronext, Paris: TEC) plans to buy substantially all of the energy and chemicals business of The Shaw Group Inc., Baton Rouge, La., (NYSE: SHAW) for approximately $300 million in cash.

Shaw’s energy and chemicals segment offers consulting, technology licensing, project management, engineering, procurement, construction, commissioning, and startup services for the oil and gas, refining, petrochemical, and upstream industries.

Shaw will retain energy and chemicals personnel in its Baton Rouge office, which will be integrated into the company’s plant services division, and Shaw Consulting International Inc., which will ...