TechnipFMC Awarded Significant Ethylene Furnaces Modernization Contract Stimulating Investment in the Netherlands and Reducing Total Site Emissions at Shell’s Moerdijk Plant

Rhea-AI Summary

TechnipFMC (NYSE:FTI) has secured a significant contract from Shell for the Engineering, Procurement, and Fabrication of proprietary equipment for eight ethylene furnaces at the Moerdijk petrochemical complex in the Netherlands. This upgrade is set to replace 16 older units without reducing capacity, enhancing energy efficiency while cutting greenhouse gas emissions by 10% annually. The project will allow continued operation during the upgrade phase, demonstrating TechnipFMC's leadership in ethylene technology.

Positive

• Awarded a significant contract valued between $75 million and $250 million.
• Project enhances energy efficiency and reduces Shell's annual CO2 emissions by 10%.
• TechnipFMC's innovative technologies position it as a leader in ethylene technology.

Negative

• None.

LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has been awarded a significant⁽¹⁾ contract by Shell Moerdijk for the Engineering, Procurement and module Fabrication (EPF) for proprietary equipment and related services for eight ethylene furnaces at the Moerdijk petrochemicals complex in the Netherlands.

The new furnaces will utilize TechnipFMC’s innovative multi-lane radiant coil design and will replace 16 older units without reducing capacity at the facility, while increasing energy efficiency and reducing greenhouse gas emissions. This upgrade is expected to reduce Shell Moerdijk’s annual CO₂ emissions by about 10 percent.

The new furnaces will be shipped to the site in modules, enabling the cracker to continue to operate throughout the upgrade project.

Catherine MacGregor, President Technip Energies, commented: “We are very pleased to be selected for this important revamp project for Shell and commend the efforts by the project team to reduce the CO₂ emissions. This award also demonstrates our leadership in ethylene technology and the innovations we are achieving in improving energy efficiency.”

Richard Zwinkels, General Manager Shell Moerdijk commented: “We continue to invest in innovation, even in difficult economic times. This investment at Moerdijk contributes to the reduction of carbon emissions from our manufacture of chemicals and to Shell’s ambition of becoming a net-zero emissions energy business by 2050 or sooner. We aim to achieve our ambition in step with society.”

(1)

For TechnipFMC, a “significant” contract ranges between $75 million and $250 million.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “believe”, “estimated” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

About TechnipFMC
TechnipFMC is a global leader in the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers’ project economics.

Organized in three business segments — Subsea, Surface Technologies and Technip Energies — we are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our customers in developing their energy resources and in their positioning to meet the energy transition challenge.

Each of our approximately 37,000 employees is driven by a steady commitment to clients and a culture of project execution, purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.

TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Category: UK Regulatory