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Technip Energies, represented in the U.S. by THNPY American depositary receipts, reports developments across engineering and technology work for the energy transition. Recurring updates include LNG project awards, Process Design Package and FEED work, hydrogen and ethylene technologies, blue and green hydrogen initiatives, sustainable chemistry, and CO2 management projects.
Company news also covers technology partnerships such as autothermal reforming and partial oxidation licensing for blue hydrogen, carbon capture collaborations using Shell CANSOLV technology, and Reju, its textile-to-textile regeneration business focused on polyester waste circularity. Governance and issuer updates include annual report publication, annual general meeting materials, financial-results scheduling, Euronext Paris listing references, and the Level 1 sponsored ADR program traded over the counter in the United States.
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Technip Energies has published the convening notice for its Annual General Meeting scheduled for May 10, 2022, at 2:00 p.m. CEST in Amsterdam. Relevant documents including the agenda are available at investors.technipenergies.com/events-presentations/agm. The company's 2022 Annual Report can also be accessed at investors.technipenergies.com/financial-information/results-center. Technip Energies, a leader in engineering and technology for energy transition, operates in 35 countries, employing 15,000 staff and focusing on sectors like LNG and hydrogen.
Technip Energies, a leading Engineering & Technology company for energy transition, has published its 2022 Annual Report, which has been filed with the Financial Markets Authority in the Netherlands and the Autorité des marchés financiers in France. The report is accessible on the company’s investor relations website. An Annual General Meeting is scheduled for May 10, 2023, in Schiphol, Netherlands. The company is recognized for its leadership in Liquefied Natural Gas, hydrogen, and sustainable energy solutions, operating in over 30 countries with a workforce of 15,000 people committed to innovative energy projects.
Technip Energies, in collaboration with Shell Catalysts & Technologies and Zachry Group, has secured a FEED contract for a carbon capture unit in Baytown, Texas. This project aims to capture 2 million tons of CO2 annually, targeting 95% of emissions from Calpine’s Baytown Energy Center. The strategic alliance between Technip and Shell, established in 2012, aims to enhance solutions in the growing carbon capture and storage market. Zachry will oversee engineering and construction planning for the project, which is positioned as a significant step in decarbonizing energy production.
Technip Energies reported a robust FY 2022 with adjusted revenue of €6.4 billion, down 4% from FY 2021, but achieved a recurring EBIT margin of 7%, up 50bps year-over-year. Net profit rose by 27% to €320.2 million, resulting in a proposed dividend of €0.52 per share, reflecting a 16% increase. The company noted a significant 63% growth in its Technology, Products & Services (TPS) backlog and a strong performance in project management consultancy. For FY 2023, Technip anticipates revenue guidance of €5.7 to €6.2 billion and aims for sustainable profitability, bolstered by ongoing demand in global gas and LNG markets.
Technip Energies has secured a Front-End Engineering and Design (FEED) contract from Arcadia eFuels to establish the world's first commercial eFuels facility in Vordingborg, Denmark. This facility aims to produce around 80,000 metric tons per annum of sustainable aviation fuels using renewable resources, with a plant start-up targeted for 2026. The project encompasses the engineering of a 250 MW electrolyzer plant for green hydrogen production. This initiative aligns with EU mandates for carbon reductions in aviation, ultimately allowing airlines to meet environmental targets by utilizing these advanced eFuels.
Technip Energies has secured a contract for the front-end engineering and design (FEED) of ExxonMobil's low-carbon hydrogen project in Baytown, Texas. This project aims to produce approximately one billion cubic feet of low-carbon hydrogen per day and will capture over 98% of CO2 emissions, totaling around 7 million metric tons annually. With the potential to reduce Scope 1 and 2 emissions by up to 30%, this initiative highlights Technip's expertise in blue hydrogen and its commitment to advancing the energy transition.
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.