Technip Energies (PARIS:TE), leader of a joint venture (TJN RUWAIS JV) with JGC and NMDC Energy, have been awarded a major contract(1) by ADNOC for the engineering, procurement and construction (EPC) of the lower-carbon Ruwais LNG project, located in Al Ruwais Industrial City, Abu Dhabi.
The project will consist of two natural gas liquefaction trains with a total LNG production capacity of 9.6 Mtpa(2). The plant will use electric-driven motors instead of conventional gas turbines and will be powered by clean energy.
The plant is set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power, making it one of the lowest-carbon intensity LNG plants in the world.
The project will more than double ADNOC's LNG production capacity aligning with global natural gas demand and the shift towards decarbonization.
Arnaud Pieton, CEO of Technip Energies, commented, "We are honored to have been awarded by ADNOC the Ruwais LNG project, a pioneering initiative in the LNG sector. By powering electrified LNG trains with nuclear energy, this project sets a new standard for energy security and sustainability. By leveraging our low-carbon and electrified LNG leadership we will support ADNOC's position as a reliable global natural gas supplier and commitment to decarbonization."
Farhan Mujib, Representative Director, President of JGC, commented, "We are highly honored to have been awarded in this innovative lower-carbon LNG project which will be the next generation of energy security and sustainability. We commit to leveraging our capabilities and experience for the lower-carbon Ruwais LNG project, bringing our proven track record in the LNG field. We are convinced this will contribute to the success of the project and enhance economic growth in the UAE."
Ahmed Al Dhaheri, CEO of NMDC Energy, commented, "We are proud to be entrusted by ADNOC with the Ruwais LNG project, which strengthens our position in the UAE's energy landscape and underscores our dedication to advancing the country's sustainable development. Utilizing nuclear energy for LNG production not only sets a new international standard for low-emission energy but also aligns with the UAE's strategy for a sustainable future."
(1) A "major" award for Technip Energies is a contract award representing above €1 billion of revenue.
(2) Mtpa: million tons per annum
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in 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 an extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our clients' innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts ("ADR") program, with its ADRs trading over the counter.
For further information: www.ten.com
Contacts
Investor RelationsMedia Relations
Phillip Lindsay Jason Hyonne
Vice-President Investor Relations Press Relations & Social Media Manager
Tel: +44 207 585 5051 Tel: +33 1 47 78 22 89
Email: Phillip Lindsay Email: Jason Hyonne
Important Information for Investors and Securityholders
Forward-Looking Statements
This press release contains forward-looking statements that reflect Technip Energies' (the "Company") intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words "believe", "expect", "anticipate", "plan", "intend", "foresee", "should", "would", "could", "may", "estimate", "outlook", and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company's current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.
All of the Company's forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company's control, and assumptions that could cause actual results to differ materially from the Company's historical experience and the Company's 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 the Company's risk factors set forth in the Company's 2023 Annual Financial Report filed on March 8, 2024, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) which include a discussion of factors that could affect the Company's future performance and the markets in which the Company operates.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company 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.
