Technip Energies - THNPY STOCK NEWS

Technip Energies has been awarded a contract by Aramco to upgrade sulfur recovery facilities at the Riyadh Refinery. This project includes implementing three new tail gas treatment units and enhancing the performance of existing sulfur recovery units to achieve over 99.9% recovery efficiency and comply with stricter sulfur dioxide emissions regulations. The project will utilize local resources, reinforcing Technip Energies' long-standing partnership with Aramco since the mid-1990s. This award will be reflected in the fourth quarter 2022 financial results.

Technip Energies will announce full year 2022 financial results on March 2, 2023, at 07:30 CET. A conference call for the results will follow at 14:00 CET. Participants can dial in 10 minutes prior using designated phone numbers for France, the UK, and the US, with conference code 880901. The event will also be webstreamed, available for on-demand listening shortly after.

Technip Energies focuses on energy transition, holding prominent positions in Liquefied Natural Gas (LNG), hydrogen, and sustainable chemistry. With operations in 34 countries, the company is driven by over 15,000 employees dedicated to innovative project delivery.

Technip Energies, leading a joint venture with Samsung Engineering and Tecnimont, has secured a Pre-Construction Services Agreement (PCSA) for the Onshore facilities of the Hail & Ghasha Gas Development Project in Abu Dhabi, UAE. Following the successful completion of the Front-End Engineering and Design (FEED), the PCSA includes early project activities such as Initial Detailed Engineering and procurement of critical Long Lead items. The project aims to optimize costs in alignment with ADNOC’s investment strategy. Technip Energies highlights its commitment to sustainability and its longstanding relationship with ADNOC.

Technip Energies has secured a large contract for Project Management Consultancy from Kuwait Oil Company. The five-year framework agreement focuses on front-end engineering design and project management for KOC’s major projects, renewing their previous partnership established in 2014. The contract is expected to generate revenue between €250 million and €500 million, which will be recognized progressively as services are rendered.

Technip Energies emphasizes its commitment to delivering high-quality consultancy services while enhancing its strong relationship with KOC.

Technip Energies has secured a contract worth over €250 million for the supply of proprietary cracking furnaces for the Golden Triangle Polymers project in Orange, Texas. This project, a collaboration with Chevron Phillips Chemical and QatarEnergy, involves a 2,000 kta ethane cracker using innovative emissions reduction technology, aimed at lowering greenhouse gas emissions. The award aligns with Technip Energies' engagement strategy and showcases its expertise in ethylene technology, marking a significant milestone in sustainable energy practices.

Technip Energies has been selected by Renexia to conduct front-end engineering and design (FEED) for the Med Wind floating offshore wind project in the Mediterranean Sea, 60 km off Sicily. The scope includes FEED for 190 floating foundations and moorings for wind turbines, using Technip's INO15™ technology. The project will have a capacity of 2.8 GW, sufficient to power over 3 million households in Italy. This development supports Italy's renewable energy goals and decarbonization efforts.

Technip Energies has secured a contract from TotalEnergies to develop Sustainable Aviation Fuels (SAF) at the Grandpuits platform in France. The project involves Engineering, Procurement services, and Construction assistance (EPsCa) for converting the Grandpuits refinery into a zero-crude platform focused on SAF production. This facility is expected to produce 210,000 tons of SAF annually from sustainable feedstock, including used cooking oil and animal fat. This initiative aligns with Technip Energies' strategy to accelerate energy transition and reduce CO₂ emissions.

Technip Energies N.V. announced the suspension of its liquidity agreement with Kepler Cheuvreux effective November 22, 2022, pending shareholder approval for share buybacks. As of this date, the liquidity contract included 8,900 shares valued at €9.78 million, a decrease from 207,823 shares worth €6.83 million on June 30, 2022. Technip Energies, engaged in the energy transition sector, emphasizes its expertise in LNG, hydrogen, and sustainable chemistry, operating in 34 countries with a workforce of 15,000.

Baker Hughes and Technip Energies have signed a Memorandum of Understanding (MoU) to collaborate on developing a new liquefied natural gas (LNG) modular solution with a production range of 1 to 2 million tons per annum (MTPA) for the onshore market. This agreement aims to enhance LNG capacity and reduce time-to-market, addressing the growing demand for modular solutions. The new offering complements Baker Hughes' existing 1 MTPA range LNG solution and Technip's SnapLNG^TM. Both companies emphasize their commitment to low-emission liquefaction processes.