Technip Energies
| Company type | Public |
|---|---|
| Industry | Engineering, Energy, Chemical sector |
| Predecessor | TechnipFMC |
| Founded | 2021 |
| Headquarters | France |
Area served | Worldwide (34 countries) |
Key people | Arnaud Piéton (CEO) |
| Products | Engineering and technology services for LNG, refinery bio-conversion, carbon capture, hydrogen production |
Number of employees | 15,000 (2021) |
Technip Energies NV is a French-based engineering and technology firm specializing in the energy industry and the chemical sector. It originated as a spin-off from TechnipFMC.
History
Founded in 2021, Technip Energies emerged from the multinational energy corporation TechnipFMC, which itself was created through the merger of the French company Technip and the American enterprise FMC Technologies. In August 2019, Doug Pferdehirt, CEO of TechnipFMC, revealed plans to divide the company into two separate organizations: one focused on technology and services retaining the TechnipFMC brand, and another dedicated to engineering and construction, rebranded as Technip Energies. By January 2021, CEO Arnaud Piéton communicated intentions for an initial public offering, highlighting the firm’s readiness to function autonomously. The separation was finalized on 12 February 2021.
Activities
Technip Energies specializes in engineering and delivering large-scale projects related to liquefied natural gas (LNG), refinery bio-conversion, carbon capture technologies, and hydrogen production. This contrasts with TechnipFMC’s emphasis on upstream oil exploration and production activities.
More than 60% of Technip Energies’ revenues derive from LNG projects, while refining and petrochemical operations contribute between 25% and 30%. The company holds a leading position globally in constructing LNG facilities and is responsible for approximately 30% of the world’s installed hydrogen production capacity.
As of December 2021, Technip Energies maintained operations across 34 countries with a workforce numbering 15,000 employees.
Among its notable projects, Technip Energies served as the principal contractor for the $27 billion Yamal LNG venture designed to export LNG to Asian markets via the Northeast Passage. Following Russia’s invasion of Ukraine in 2022, the company halted pursuit of new contracts in Russia. Subsequent EU sanctions led to suspension of its Arctic LNG 2 project; by October 2022, an agreement was reached for Technip Energies to withdraw from this project by mid-2023.
In February 2021, QatarEnergy awarded a $13 billion contract jointly to Technip Energies and Chiyoda for constructing four LNG plants intended to boost Qatar’s LNG capacity by 40%. This agreement notably enhanced Technip Energies’ market valuation.
In 2021, Technip Energies provided the world’s first liquefied CO₂ marine loading arms as part of Norway’s Northern Lights carbon capture initiative. By July 2022, it secured a contract to build Norway’s inaugural waste-to-energy facility equipped with CO₂ capture technology.
In 2022, the firm collaborated with Swiss sports brand On to create footwear manufactured using carbon emissions as raw materials. Additionally, it established a joint venture named NT ENERGIES LLC with UAE-based NPCC to deliver energy transition services focusing on decarbonization and blue and green hydrogen development across the Middle East and North Africa region.
During 2023, Technip Energies obtained two EPCM contracts from Galp Energia for its Sines refinery in Portugal: a 270 ktpa advanced biofuels unit (with Galp holding 75% ownership and Mitsui 25%), alongside a 100 MW PEM electrolysis facility capable of producing up to 15 ktpa of renewable hydrogen intended to replace as much as 20% of grey hydrogen usage. These initiatives support Galp’s €650 million commitment toward reducing its environmental impact.
That same year, Technip Energies partnered with Belgian engineering company John Cockerill to launch Rely, a hydrogen supply enterprise, while also collaborating with LanzaJet to expand sustainable aviation fuel production utilizing its proprietary Hummingbird Technology.
Technip Energies contributed to founding the Alliance for Industry Decarbonization aimed at accelerating emission reductions across industrial value chains in line with Paris Agreement objectives. The company is also part of the OPEN-C Foundation which promotes floating wind power and marine renewable energy technologies.
The corporation is publicly traded on Euronext Paris under the ticker symbol TE.
Controversies
The French publication Le Monde reported that Technip Energies was involved in the Russian Arctic LNG 2 initiative despite the sanctions imposed by the European Union. The article claims the firm bypassed these restrictions to prevent financial setbacks following extensive investment of labor hours. Technip Energies withdrew from the project on July 27, 2023, more than a year subsequent to the enforcement of EU sanctions, asserting that it adhered to all relevant legal requirements.