Technip Energies Awarded a Proprietary Equipment Contract by Chevron Phillips Chemical and QatarEnergy for the Golden Triangle Polymers Ethane Cracker
PARIS--(BUSINESS WIRE)--Dec 21, 2022--
Technip Energies (PARIS:TE) (ISIN:NL0014559478) has been awarded a contract (1) for the supply of proprietary cracking furnaces for the 2,000 kta (2) ethane cracker for the Golden Triangle Polymers project, a joint venture between Chevron Phillips Chemical (CPChem) and QatarEnergy, along the Gulf Coast in Orange, Texas.
This latest award is in line with our early engagement strategy with CPChem and QatarEnergy, which resulted in the selection of our proprietary ethylene technology and includes the successful completion of the ethylene license and Process Design Package (PDP).
The modularized cracking furnaces will feature seven of the largest capacity furnaces that Technip Energies has ever designed. The cracker is designed using modern emissions reduction technology and processes that result in lower greenhouse gas emissions than similar facilities in the United States and Europe.
Bhaskar Patel, SVP Sustainable Fuels, Chemicals and Circularity of Technip Energies, commented: “We are very pleased that CPChem and QatarEnergy selected our cracker technology and design for this mega-cracker project. Utilizing our extensive experience with ethylene cracker design and our latest advancements to reduce emissions will contribute to their efforts to help enable a lower carbon future. We thank CPChem for its continued confidence in T.EN’s cracking technology, having previously incorporated the technology at other facilities.”
(1) This contract award is representing over €250 million of revenue for Technip Energies.
(2) kta: kilotons per annum.
To know more about Ethylene: Technip Energies is a world leader in the ethylene industry with about 50 percent of the licensing market share. We have unique experience in the design, construction and modernization of the largest ethylene plants using proprietary technologies.
For more information, please go to https://www.technipenergies.com/markets/ethylene.
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 CO 2 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
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. 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 Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
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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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PUB: 12/21/2022 01:00 AM/DISC: 12/21/2022 01:01 AM