Major Contract Awarded to Technip Energies for LNG Project
Technip Energies Secures Major Contract
Technip Energies (PARIS: TE) has recently been awarded a significant Engineering, Procurement, and Construction (EPC) contract by Commonwealth LNG. This contract underscores Technip Energies' commitment to advancing liquefied natural gas (LNG) capabilities through innovative modular solutions. The project involves building a 9.5 million tons per annum (Mtpa) LNG facility, a strategic step in enhancing energy exports.
Innovative SnapLNG Solution
This contract encompasses the delivery of six identical liquefaction trains utilizing the SnapLNG by T.EN modular approach. By standardizing the design across all six trains, Technip Energies can ensure quicker timelines and optimized costs. This method not only enhances delivery efficiency but also provides predictable results at a larger scale, a crucial factor in meeting increasing global energy demands.
Strengthening Global LNG Leadership
With this project, Technip Energies further establishes its robust position in the LNG sector, having already contributed over 20% of the world's operating LNG capacity. The company is well-known for its pioneering modular project delivery methodologies, which deliver projects on time and within budget, making it a trusted partner in the energy industry.
Leadership Insights
Arnaud Pieton, the CEO of Technip Energies, expressed pride in securing the Commonwealth LNG project. He emphasized the importance of this initiative in bolstering global energy security, assuring a reliable and efficient LNG supply. His statement highlighted Technip Energies' adaptability and commitment to leveraging its world-class experience in LNG projects.
Client Expectations and Project Status
While the contract has been awarded, it is contingent upon the Final Investment Decision (FID) by Commonwealth LNG. This means Technip Energies will not include this project in its backlog until FID is finalized or a full notice to proceed is issued. This careful approach ensures that both parties are aligned on project goals before moving forward.
Technip Energies: A Snapshot
Technip Energies is a leading global technology and engineering firm specializing in sectors such as LNG, hydrogen, and sustainable chemistry. The company plays a vital role in developing crucial markets related to energy, sustainability, and circular economy practices. With over 17,000 employees across 34 countries, Technip Energies is renowned for turning innovative ideas into realistic, scalable solutions that bridge the gap between profit and sustainability.
Financial Overview
In 2024, Technip Energies reported revenues reaching €6.9 billion, reflecting its successful operations and solid market presence. The company's stock is traded on Euronext Paris, alongside American Depositary Receipts available over the counter, making it accessible to a diverse range of investors.
Key Contacts
Investor Relations: Phillip Lindsay, Vice-President
Tel: +44 207 585 5051
Email: Phillip Lindsay
Media Relations:
Jason Hyonne, Press Relations & Social Media Manager
Tel: +33 1 47 78 22 89
Email: Jason Hyonne
Frequently Asked Questions
What is the role of Technip Energies in the Commonwealth LNG project?
Technip Energies is responsible for the Engineering, Procurement, and Construction (EPC) of the LNG export facility, utilizing innovative approaches to ensure efficiency and cost-effectiveness.
What is SnapLNG by T.EN?
SnapLNG by T.EN is a modular and scalable solution that allows for standardization across liquefaction trains, thus optimizing construction time and costs.
Why is the contract contingent upon Final Investment Decision?
The contract's finalization depends on the FID by Commonwealth LNG, which is crucial to ensure all project conditions are agreeable to both parties before proceeding.
How does Technip Energies contribute to sustainability?
Technip Energies focuses on innovative technologies and project delivery models that promote sustainability and circular economy practices within the energy sector.
What is the recent revenue of Technip Energies?
Technip Energies generated revenues of €6.9 billion in 2024, emphasizing its strong market position and operational success.
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