Company type | Public (NV) |
---|---|
Euronext Paris: TE CAC Mid 60 component | |
Industry | Energy services |
Founded | 12 February 2021 |
Headquarters | La Défense, Nanterre, France |
Key people |
|
Products | Project, technology, engineering and construction management for the energy industry |
Revenue | €6.7 billion (2021) |
€431 million (2021) | |
Number of employees | 15,000 (December 2021) |
Website | www |
Technip Energies NV is a French engineering and technology company for the energy industry and chemicals sector. It is a spin-off of TechnipFMC.
Technip Energies was established in 2021 as a spinoff of multinational energy company TechnipFMC, itself the result of a merger between French group Technip and American company FMC Technologies. [1] [2] [3] [4] In August 2019, TechnipFMC CEO Doug Pferdehirt announced that TechnipFMC would be split into two independent engineering companies: a dedicated technology and services company, to retain the TechnipFMC name, and an engineering and construction business renamed Technip Energies. [5] In January 2021, Technip Energies CEO Arnaud Piéton announced plans for an initial public offering and committed to demonstrate to shareholders that the organization could operate independently of TechnipFMC. The TechnipFMC split became effective the following month. The spinoff was completed on 12 February 2021. [6]
Technip Energies, unlike TechnipFMC, will not focus on upstream—oil exploration and production—development projects, but instead largely on design and construction of large-scale projects to liquify and ship natural gas, as well as refinery bio-conversion projects, carbon capture, and hydrogen. [7]
Gas, especially liquefied natural gas (LNG), provides over 60% of Technip Energies’ turnover, while refining and petrochemicals together provide 25-30%. [8] Technip Energies is the world leader in the construction of LNG factories. [9] Technip Energies is also a world leader in hydrogen, having participated in the construction of 30% of the currently installed production capacities. [10]
As at December 2021, the company operated in 34 countries with 15,000 employees. [11]
Technip Energies has been the main contractor on the Yamal LNG development, [12] a US$27 billion project [13] designed to ship LNG to Asian markets through the Northeast Passage. [14] In March 2022, Technip Energies renounced new business opportunities in Russia following its invasion of Ukraine. [15] [16] In April 2022, the European Union's fifth package of sanctions against Russia barred the delivery of goods and technologies required for gas liquefaction, putting a pause on Technip Energies' Arctic LNG 2 liquefied natural gas project. [17] [18] In October 2022, Arnaud Pieton announced having signed an Exit Framework Agreement for this project and anticipated completing this process within the first half of 2023. [19]
In February 2021, QatarEnergy awarded a $13 billion contract to Technip Energies and its Japanese partner Chiyoda. [20] The project involves the construction of four natural gas liquefaction plants in Qatar to increase the country's liquefied natural gas production by 40%. The contract sent Technip Energies stock price soaring on its first day of trading, [21] associating it with the largest LNG project in history. [22] [23]
In 2021, Technip Energies supplied the world's first liquefied CO2 marine loading arms as part of the Northern Lights carbon capture project in Norway. [24] In July 2022, Hafslund Oslo Celsio awarded Technip Energies a contract for the world's first complete waste-to-energy facility with CO2 capture. [25]
In 2022, Technip Energies collaborated with the Swiss sports brand On to develop the first ever shoe made using carbon emissions as a primary raw material. [26]
In July 2022, Technip Energies signed an agreement with the UAE's National Petroleum Construction Co. (NPCC) to form the joint venture NT ENERGIES LLC, which aims to support the energy transition in the Middle East and North Africa by offering services related to decarbonization and blue and green hydrogen. [27]
In 2023 Technip Energies was awarded two Engineering, Procurement Services and Construction Management (EPCM) contracts by Galp for the development of their Sines refinery in Portugal. The primary focuses of the contracts are the installation of a 270 ktpa capacity advanced bio-fuels unit, in a joint venture partnership with Galp holding 75% and Mitsui holding 25%, and a 100 MW proton exchange membrane (PEM) electrolysis plant with a production up to 15 ktpa of renewable hydrogen, to replace up to 20% of the refinery's grey hydrogen consumption. Both initiatives have been undertaken as part of Galp's program to reduce the carbon footprint of the refinery and its products, with a total gross investment of €650 million. [28]
In the same year, Technip Energies, entered into several collaborations including a partnership with Belgian engineering company John Cockerill, to develop Rely - a provider of end-to-end green hydrogen solutions; [29] and a partnership with LanzaJet to expand its sustainable aviation fuel production with the use of Technip Energies' Hummingbird Technology. [30] [31] [32]
Technip Energies was part of the consortium which launched the Alliance for Industry Decarbonization, which aims to decarbonize industrial value chains towards the Paris Agreement goals. [33]
Technip Energies is a member of OPEN-C Foundation, a foundation dedicated to floating wind power and marine renewable energies. [34]
Technip Energies is listed on the Euronext Paris stock market with symbol TE, and on the American over-the-counter market as American Depositary Receipt TKPPK. [35]
According to the French newspaper Le Monde, [36] Technip Energies participated in the Russian project Arctic LNG 2 after the sanctions imposed by the European Union against Russia. Le Monde writes "European sanctions against Russia should have prohibited any Western involvement in such a project." and alleges that Technip Energies circumvented the sanctions to avoid heavy loses and penalties after having spent millions of work hours in the project. Technip Energies exited the project on July 27, 2023, over a year later after the European Union imposed the sanctions. Technip Energies affirms that it complied with all applicable sanctions. [37]
China Petroleum and Chemical Corporation, or Sinopec, is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai.
Sonatrach is the national state-owned oil company of Algeria. Founded in 1963, it is known today to be the largest company in Africa with 154 subsidiaries, and often referred as the first African oil "major". In 2021, Sonatrach was the seventh largest gas company in the world.
Technip S.A. was a company that carried out project management, engineering and construction for the energy industry; in 2017 it completed a merger with FMC Technologies to form TechnipFMC. Its headquarters were in the 16th arrondissement of Paris. It has about 38,000 employees and operates in 48 countries.
Polskie Górnictwo Naftowe i Gazownictwo S.A., abbreviated to PGNiG, was a Polish state-controlled oil and gas company, headquartered in Warsaw, Poland. The company has branches and representative offices in Russia, Pakistan, Belarus and Ukraine and holds equity interests in some 30 subsidiaries, including providers of specialist geophysical, drilling and well services.
Novatek is Russia's second-largest natural gas producer, and the seventh-largest publicly traded company globally by natural gas production volume. The company was originally known as OAO FIK Novafininvest. Novatek is based in the Yamalo-Nenets Autonomous Region in West Siberia, and maintains a head office in Moscow. In the 2020 Forbes Global 2000, Novatek was ranked as the 316th-largest public company in the world.
FMC Technologies, Inc. was a North American company that produced equipment for the exploration and production of hydrocarbons. FMC Technologies was incorporated in 2000 when FMC Corporation divested its machinery businesses. It exists today as a part of TechnipFMC, after a merge with Technip in 2017.
QatarEnergy LNG, formerly Qatargas, is the world's largest liquefied natural gas (LNG) company. It produces and supplies the globe with 77 million metric tonnes of LNG annually from across its seven ventures—QatarEnergy LNG N(1), QatarEnergy LNG N(2), QatarEnergy LNG N(3), QatarEnergy LNG N(4), RL1, RL2 and RL3. It is headquartered in Doha, Qatar, and maintains its upstream assets in Ras Laffan, Qatar. Natural gas is supplied to the company's LNG trains from Qatar's North Field, by far the world's largest non-associated gas field. It reached a record LNG production of 77 million tonnes per year in December 2010. According to Brand Finance, QatarEnergy LNG is the world's fastest growing oil and gas brand in 2023. QatarGas is said to be used through gas diplomacy as leverage by Qatar on the EU and India to advance its interests and silence criticism of its human rights violations and corruption.
QatarEnergy, formerly Qatar Petroleum (QP), is a state owned petroleum company of Qatar. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. The President & CEO is Saad Sherida al-Kaabi, Minister of State for Energy Affairs. The company's operations are directly linked with state planning agencies, regulatory authorities, and policy making bodies. Together, revenues from oil and natural gas amount to 60% of the country's GDP. As of 2018 it was the third largest oil company in the world by oil and gas reserves. In 2022, the company had total revenues of US$52bn, a net income of US42.4bn, and total assets of US$162bn. In 2021, QatarEnergy was the fifth largest gas company in the world.
EG LNG is a liquefied natural gas (LNG) company that operates an LNG terminal and plant at Malabo, the capital city of Equatorial Guinea located on Bioko Island. The LNG plant began operation in 2007 and the first cargo of LNG was delivered on 24 May 2007.
Engie SA is a French multinational utility company, with its headquarters in La Défense, Courbevoie, which operates in the fields of electricity generation and distribution, natural gas, nuclear, renewable energy and petroleum. It is active in both upstream and downstream activities.
Énergir, formerly known as Gaz Métro, is an energy company with 535,000 customers in Quebec and the northeastern United States. It is the largest natural gas distribution company in Quebec, and, through subsidiaries, also produces electricity from wind. In the United States the company operates through subsidiaries in seventeen states, where it produces electricity from hydroelectric, wind and solar sources, in addition to being the leading electricity distributor and the sole natural gas distributor in Vermont.
Essar Group is an Indian multinational conglomerate company, founded by Shashi Ruia and Ravi Ruia in 1969. The company, known as Essar Global Fund Limited (EGFL), owns a variety of assets in the core sectors of energy, infrastructure & logistics, metals & mining, technology, and retail. EGFL holds a nearly 100% stake in all its investments.
Nigeria LNG Limited (NLNG) is a liquefied natural gas (LNG)-producing company and a liquefied natural gas plant on Bonny Island, Nigeria.
OQ, formerly known as Oman Oil Company, is an energy investment company headquartered in Muscat, Oman. It is a wholly owned subsidiary of the Government of Oman through the Oman Investment Authority.
A floating liquefied natural gas (FLNG) facility is a floating production storage and offloading unit that conducts liquefied natural gas (LNG) operations for developing offshore natural gas resources. Floating above an offshore natural gas field, the FLNG facility produces liquefied stores and transfers LNG at sea before carriers ship it directly to markets.
Prelude FLNG is a floating liquefied natural gas (FLNG) platform owned by Shell plc and built by the Technip–Samsung Consortium (TSC) in South Korea for a joint venture between Royal Dutch Shell, KOGAS, and Inpex. The hull was launched in December 2013.
Yamal LNG is a joint venture led by Novatek based around a liquefied natural gas plant located in Sabetta at the north-east of the Yamal Peninsula, northwest Siberia, Russia. In addition to the LNG plant, the project includes production at the Yuzhno-Tambeyskoye gas field, and the transport infrastructure, including the Sabetta seaport and airport.
TechnipFMC plc is a French-American, UK-domiciled global oil and gas company that provides services for the energy industry. The company was formed by the merger of FMC Technologies of the United States and Technip of France that was announced in 2016 and completed in 2017.
Gaztransport & Technigaz SA is a French multinational naval engineering company with headquarters in Saint-Rémy-lès-Chevreuse, France.
A global energy crisis began in the aftermath of the COVID-19 pandemic in 2021, with much of the globe facing shortages and increased prices in oil, gas and electricity markets. The crisis was caused by a variety of economic factors, including the rapid post-pandemic economic rebound that outpaced energy supply, and escalated into a widespread global energy crisis following the Russian invasion of Ukraine. The price of natural gas reached record highs, and as a result, so did electricity in some markets. Oil prices hit their highest level since 2008.