Technip Energies Awarded a Significant Contract for the Electric-Driven Xi’An LNG Project in China

Rhea-AI Summary

Technip Energies has secured a significant contract from Shaanxi LNG Reserves & Logistics Co. Ltd. for the Xi'An LNG Emergency Reserve & Peak Regulation Project in China, with expectations to generate between €50 million and €250 million in revenue.

The contract encompasses a Process Design Package, Front-End Engineering and Design, and essential equipment supply for a single 0.8 MTPA LNG train. The project will implement AP-SMR™ liquefaction technology and will feature the world's largest liquefaction unit driven by a single electric motor, emphasizing low-carbon LNG production.

Positive

• Awarded contract valued between €50 million and €250 million, indicating substantial revenue potential.
• Utilization of innovative AP-SMR™ technology positions the company as a leader in low-carbon LNG production.
• Strengthening position in the mid-scale LNG market in China, following a successful previous project.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Technip Energies (PARIS: TE) has been awarded a significant⁽¹⁾ contract by Shaanxi LNG Reserves & Logistics Co. Ltd. for the 3 million normal cubic meters per day Xi'An LNG Emergency Reserve & Peak Regulation Project in China.

The contract covers the Process Design Package (PDP), Front-End Engineering and Design (FEED), and supply of key equipment of a single 0.8 MTPA⁽²⁾ LNG train. It also covers technical services for construction, commissioning, start-up and performance testing.

The plant will utilize AP-SMR™ liquefaction technology which is well suited for mid-scale LNG and will be all-electric motor-driven with the aim of reducing emissions. It will be the largest liquefaction unit in the world using a single electric motor-driven mixed refrigerant compressor, hence being a reference in terms of low-carbon LNG production.

Loic Chapuis, SVP Gas & Low-carbon Energies of Technip Energies, commented: “We are pleased to have been one more time entrusted by Shaanxi Yanchang Petroleum Group and Shaanxi Gas Group following the successful Yangling LNG project awarded in 2012. This award strengthens our positioning in the mid-scale LNG market in China. By being all-electric motor-driven, this LNG plant will be a reference for low-carbon LNG in the industry and we are committed to bringing our leadership in LNG and best-in-class execution to support our client in this important project.”

(1) A “significant” award for Technip Energies is a contract award representing between €50 million and €250 million of revenue.

(2) MTPA: million ton per annum

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 35 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.

Disclaimers

This release is intended for informational purposes only for the shareholders of Technip Energies. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.

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 contract value for Technip Energies' new project in China?

The contract value is expected to be between €50 million and €250 million.

What technology will be used in the Xi'An LNG project by Technip Energies?

The project will utilize AP-SMR™ liquefaction technology.

What is the significance of the Xi'An LNG project for Technip Energies?

It strengthens Technip Energies' position in the mid-scale LNG market in China.

How much LNG capacity is the new plant designed for?

The plant is designed for a capacity of 0.8 million tons per annum (MTPA).

What distinguishes the liquefaction unit in the Xi'An LNG project?

It will be the largest liquefaction unit in the world using a single electric motor-driven mixed refrigerant compressor.