Technip Energies Awarded a Large EPC Contract by Hafslund Oslo Celsio for a World-First Carbon Capture and Storage Project at Waste to Energy Plant in Norway

Rhea-AI Summary

Technip Energies has secured a significant Engineering, Procurement, and Construction (EPC) contract from Hafslund Oslo Celsio for a groundbreaking carbon capture and storage (CCS) project at a waste-to-energy plant in Oslo, Norway. This project, the first of its kind globally, aims to capture 400,000 tons of CO₂ annually, equivalent to emissions from 200,000 cars, thereby reducing Oslo's emissions by 17%. The contract is valued between €250 million and €500 million.

Positive

• Awarded a large EPC contract worth €250 million to €500 million.
• First full-scale CCS project at a waste-to-energy plant globally.
• Significant environmental impact by capturing 400,000 tons of CO₂ annually.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

© Hafslund Oslo Celsio (Graphic: Business Wire)

Technip Energies (PARIS: TE) has been awarded a large⁽¹⁾ Engineering, Procurement, Construction (EPC) contract by Hafslund Oslo Celsio, the largest supplier of district heating in Norway, for a world-first carbon capture and storage (CCS) project at waste to energy plant located in Oslo, Norway.

The project will be the first full-scale waste-to-energy plant in the world with CO₂ capture. 400,000 tons per year of CO₂ will be captured, which is the equivalent of the emissions from around 200,000 cars and will reduce Oslo’s emissions by 17%. As part of the Longship project, the CO₂ will then be liquified and exported to Northern Lights which is the first cross-border, open-source CO₂ transport and storage infrastructure network.

The Carbon Capture plant will use the Shell CANSOLV® CO₂ Capture System, a state-of-the-art amine based technology for the capture of CO₂ from the flue gas.

This EPC contract award follows several years of a joint journey with the completion of the design competition, the successful delivery and test of a pilot unit and continuous collaboration between Technip Energies and Hafslund Oslo Celsio to optimize project economics. Developing, testing and proving this cost-effective solution is the result of a close partnership and co-development with the owner, T.EN and the technology provider.

Arnaud Pieton, CEO of Technip Energies, commented: “We are proud to be entrusted by Hafslund Oslo Celsio to support the development of the first waste-to-energy with Carbon Capture and Storage project in the world. Norway is at the forefront of decarbonization initiatives and, by being part of Hafslund Oslo Celsio project, we will contribute to one of the two projects of Longship, the very first Phase of Northern Lights. We are committed to leverage our strong expertise in CO₂ management, our local presence and our alliance with Shell to successfully deliver this groundbreaking project, a key milestone towards a low-carbon future.”

(1) A “large” award for Technip Energies is a contract award representing between €250 million and €500 million of revenue.

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”) trading over-the-counter in the United States.

For further information: www.technipenergies.com.

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. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. 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

FAQ

What is the recent contract awarded to Technip Energies (THNPY)?

Technip Energies was awarded a large EPC contract for a CCS project at a waste-to-energy plant in Oslo, Norway.

What is the environmental impact of the Technip Energies CCS project?

The project aims to capture 400,000 tons of CO₂ annually, reducing Oslo’s emissions by 17%.

What is the value range of the EPC contract for Technip Energies?

The EPC contract is valued between €250 million and €500 million.

Where is the Technip Energies CCS project located?

The CCS project is located at a waste-to-energy plant in Oslo, Norway.

Who is the project partner for Technip Energies' CCS contract?

The project partner is Hafslund Oslo Celsio, Norway's largest district heating supplier.