Technip Energies (PARIS: TE) (ISIN:NL0014559478) has been awarded a contract for the front-end engineering and design (FEED) of the world's largest low-carbon hydrogen project for ExxonMobil in Baytown, Texas, USA.
The integrated complex will produce approximately one billion cubic feet of low-carbon hydrogen per day and capture more than 98%, or around 7 million metric tons per year of the associated CO2 emissions, making it the largest project of its kind in the world. Technip Energies has strong experience in blue hydrogen projects which remove carbon and replace natural gas or other higher-carbon fuels with low-carbon hydrogen to support decarbonization. As a result, Scope 1 and 2 emissions from Baytown complex can be reduced by up to 30%.
Loic Chapuis, SVP Gas and Low-Carbon Energies of Technip Energies, commented "We are very excited to be engaged with ExxonMobil Low Carbon Solutions to help design their low-carbon hydrogen production facility. We are committed to advancing the energy transition and this project will be a hallmark in contributing to the decarbonization of existing facilities and capturing significant volumes of carbon emissions."
To know more about Gas and Low-Carbon Energies: Technip Energies is a provider of consulting, engineering services and technologies for the gas and low-carbon market.
To learn more about our Decarbonization capabilities, please go to https://www.technipenergies.com.
About Technip Energies
Technip Energies is a leading Engineering Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client's innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts ("ADRs") traded over-the-counter in the United States. For further information: www.technipenergies.com.
Important Information for Investors and Securityholders
Forward-Looking Statement
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All of Technip Energies' forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies' control) and assumptions that could cause actual results to differ materially from Technip Energies' historical experience and Technip Energies' present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies' risk factors set forth in Technip Energies' filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies' registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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