Welcome to our dedicated page for Technip Energies news (Ticker: THNPY), a resource for investors and traders seeking the latest updates and insights on Technip Energies stock.
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.
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 SnapLNGTM. Both companies emphasize their commitment to low-emission liquefaction processes.
Technip Energies N.V., listed on Euronext Paris under the ticker TE, announces plans to terminate the registration of its Ordinary Shares with the SEC. This filing will be made under Form 15F on November 14, 2022, leading to an immediate suspension of reporting obligations. The termination is expected to become effective within 90 days unless the SEC objects. Despite this change, the company will continue to publish reports with the Dutch and French Financial Markets Authorities, maintaining compliance with Rule 12g3-2(b).
Technip Energies reported unaudited financial results for the first nine months of 2022, with adjusted revenues of €4.9 billion and a recurring EBIT margin of 6.9%. Adjusted diluted EPS rose by 42% year-over-year to €1.25. The company reaffirmed its full 2022 guidance, anticipating adjusted revenues between €6.2 billion and €6.5 billion. Notably, order intake surged by 60% year-over-year, significantly boosting the segment backlog. The CEO highlighted strong future prospects in LNG and decarbonization, and confirmed an orderly exit from the Arctic LNG 2 project.
Technip Energies (TE) and Shell Catalysts & Technologies have reinforced their strategic alliance to enhance carbon capture and storage (CCS) projects. Their collaboration, which has existed since 2012, focuses on cost-effective solutions using Shell’s CANSOLV technology, aimed at lowering capital and operating expenses for clients. Recently, Technip Energies secured an EPC contract for a pioneering CCS project in Oslo, Norway. The partnership aims to accelerate the energy transition by addressing the growing demand for affordable CCS solutions across various industries.
Technip Energies has been awarded the Front-End Engineering Design (FEED) contract for the Lang Lebah Onshore Gas Plant 2 (OGP2) by PTTEP HK Offshore Ltd. in Bintulu, Malaysia. The project includes CO2 capture and transportation to an offshore platform. Loic Chapuis, SVP of Gas & Low-Carbon Energies, expressed confidence in the collaboration, aiming to leverage expertise in gas plant design. The Lang Lebah OGP2 is part of the Sarawak Integrated Sour Gas Evacuation System (SISGES), expected to stimulate further sour gas resource development in the region.
Technip Energies has secured a substantial contract for the supply of proprietary equipment for INEOS Olefins' ethane cracker in Antwerp, Belgium, with a projected revenue between €250 million and €500 million. This project aligns with Technip's sustainable strategy, as the cracker is designed to have a CO2 footprint 50% lower than the top 10% of European crackers. The facility will also be capable of transitioning to 100% hydrogen fuel in the future, showcasing Technip Energies' commitment to low-carbon technology.
Technip Energies will release its Q3 2022 financial results on October 20, 2022, at 07:30 CET. A conference call will follow at 13:00 CET. Investors can join via provided phone numbers or the webcast, accessible here. The company specializes in energy transition, notably in LNG, hydrogen, and CO₂ management, operating in 34 countries with 15,000 employees.
Technip Energies, in partnership with Monford Group, has secured an EPCC contract with Yuri Operations Pty Ltd for the Project Yuri Phase 0, a green hydrogen facility in Western Australia. The project includes a 10MW electrolysis plant alongside an 18 MW solar PV farm and a battery energy system, aiming to produce 640 tonnes of green hydrogen annually. Funded by the Australian Federal Government and the Western Australian State Government, it also involves Mitsui & Co. acquiring a 28% stake in Yuri Operations. The initiative is pivotal for advancing green hydrogen and ammonia production.
Technip Energies announced that CEO Arnaud Pieton will speak at the Kepler Cheuvreux Autumn Conference on September 14. The event takes place at the Hotel du Collectionneur in Paris from September 13 to 16, 2022. A replay will be accessible on their Investor Relations website after the event. Technip Energies focuses on engineering and technology for the energy transition, operating in 34 countries with a workforce of 15,000.
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