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.
Technip Energies has secured a large contract for Project Management Consultancy from Kuwait Oil Company. The five-year framework agreement focuses on front-end engineering design and project management for KOC’s major projects, renewing their previous partnership established in 2014. The contract is expected to generate revenue between €250 million and €500 million, which will be recognized progressively as services are rendered.
Technip Energies emphasizes its commitment to delivering high-quality consultancy services while enhancing its strong relationship with KOC.
Technip Energies has secured a contract worth over €250 million for the supply of proprietary cracking furnaces for the Golden Triangle Polymers project in Orange, Texas. This project, a collaboration with Chevron Phillips Chemical and QatarEnergy, involves a 2,000 kta ethane cracker using innovative emissions reduction technology, aimed at lowering greenhouse gas emissions. The award aligns with Technip Energies' engagement strategy and showcases its expertise in ethylene technology, marking a significant milestone in sustainable energy practices.
Technip Energies has been selected by Renexia to conduct front-end engineering and design (FEED) for the Med Wind floating offshore wind project in the Mediterranean Sea, 60 km off Sicily. The scope includes FEED for 190 floating foundations and moorings for wind turbines, using Technip's INO15™ technology. The project will have a capacity of 2.8 GW, sufficient to power over 3 million households in Italy. This development supports Italy's renewable energy goals and decarbonization efforts.
Technip Energies has secured a contract from TotalEnergies to develop Sustainable Aviation Fuels (SAF) at the Grandpuits platform in France. The project involves Engineering, Procurement services, and Construction assistance (EPsCa) for converting the Grandpuits refinery into a zero-crude platform focused on SAF production. This facility is expected to produce 210,000 tons of SAF annually from sustainable feedstock, including used cooking oil and animal fat. This initiative aligns with Technip Energies' strategy to accelerate energy transition and reduce CO2 emissions.
Technip Energies N.V. announced the suspension of its liquidity agreement with Kepler Cheuvreux effective November 22, 2022, pending shareholder approval for share buybacks. As of this date, the liquidity contract included 8,900 shares valued at €9.78 million, a decrease from 207,823 shares worth €6.83 million on June 30, 2022. Technip Energies, engaged in the energy transition sector, emphasizes its expertise in LNG, hydrogen, and sustainable chemistry, operating in 34 countries with a workforce of 15,000.
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.