Technip Energies awarded a major LNG contract for the North Field West project by QatarEnergy
MWN-AI** Summary
Technip Energies has secured a significant Engineering, Procurement, Construction and Commissioning (EPCC) contract from QatarEnergy for the North Field West (NFW) project, leading a joint venture with Consolidated Contractors Company (CCC) and Gulf Asia Contracting (GAC). This contract, representing over €1 billion in revenue, entails the development of onshore liquefied natural gas (LNG) facilities consisting of two mega trains, each with a capacity of 8 million tons per annum (MTPA). These facilities will replicate two existing trains currently under construction for the North Field South (NFS) project.
The NFW project aligns with Qatar's ambitious plans to boost its LNG export capacity significantly. Once complete, it is expected to produce approximately 16 MTPA of LNG, increasing Qatar's total LNG export capacity from 77 MTPA to 142 MTPA when combined with ongoing projects like North Field East (NFE) and NFS. Additionally, NFW will incorporate advanced carbon capture technology, allowing the sequestration of an estimated 1.1 MTPA of carbon dioxide, complementing the 1.1 MTPA targeted by NFS.
CEO Arnaud Pieton emphasized the importance of this deal in strengthening Technip Energies' long-term partnership with QatarEnergy, a relationship that has been nurtured since 1986. He underscored their commitment to delivering high-performance LNG facilities that prioritize efficiency and sustainability, positioning Technip Energies as a leader in addressing the increasing global demand for LNG.
Technip Energies, which reported revenues of €6.9 billion in 2024, continues to play a pivotal role in key energy markets while striving for sustainable solutions and circular economy practices. The firm, listed on Euronext Paris, is dedicated to fostering innovation and sustainability in a rapidly evolving energy landscape.
MWN-AI** Analysis
Technip Energies' recent award of a major Engineering, Procurement, Construction, and Commissioning (EPCC) contract for QatarEnergy's North Field West (NFW) project underscores the company's strategic positioning in the global LNG market. As Technip Energies expands Qatar's LNG production capacity to a remarkable 142 MTPA, investors should consider several key factors.
Firstly, the significance of this contract—worth over €1 billion—highlights Technip Energies' strong operational capabilities and its long-standing partnership with QatarEnergy, which dates back to 1986. The continuous engagement in significant projects like the NFW and its predecessors accentuates its status as a leader in LNG and enhances its revenue stability.
Secondly, the project’s emphasis on CO2 capture and sequestration aligns with the global shift toward decarbonization, making Technip Energies a pertinent player in the sustainable energy landscape. This focus not only meets rising global LNG demand but also positions the company favorably with environmentally conscious investors and stakeholders.
From a financial perspective, Technip Energies reported revenues of €6.9 billion in 2024, indicating robust operational performance. With a well-defined growth strategy and a firm commitment to innovation across multiple segments, the company is poised for continued success amidst increasing market competition.
However, potential investors should remain cognizant of the risks outlined in their forward-looking statements, including market volatility, regulatory challenges, and execution risks associated with large-scale projects. While market conditions appear favorable, unforeseen challenges could impact financial projections.
In summary, Technip Energies presents a compelling investment opportunity within the LNG sector due to its strategic contracts, expertise in sustainable energy solutions, and a strong performance track record. Investors should evaluate this opportunity considering both the growth potential and inherent market risks.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Technip Energies (PARIS:TE), as leader of a joint venture (T.ENCCCGAC JV) with Consolidated Contractors Company (CCC) and Gulf Asia Contracting (GAC), has been awarded a major1 Engineering, Procurement, Construction and Commissioning (EPCC) contract by QatarEnergy for the onshore LNG facilities of the North Field West (NFW) project.
This award covers the delivery of 2 mega trains, each with a capacity of 8 MTPA2 of liquefied natural gas, as a replication of the 2 trains under construction by Technip Energies and CCC for the North Field South (NFS) project. Similar to North Field East (NFE) and North Field South (NFS), NFW will capture and sequestrate an additional 1.1 MTPA of CO2 to bring the total to 2.2 MTPA from NFS and NFW combined.
This expansion project will produce approximately 16 MTPA of LNG, and together with NFE and NFS projects, will increase Qatar’s total LNG export capacity from 77 MTPA to 142 MTPA.
Qatar is a country of strategic importance to Technip Energies, having maintained a strong local presence since 1986.
Arnaud Pieton, CEO of Technip Energies, commented: “We are honored by QatarEnergy’s continued trust, which further reinforces our long-term strategic partnership built on shared values, performance, delivery predictability, and a common vision for the future of LNG. This award reflects not only the continuity of our engagement across the North Field developments, but also a crucial contribution to meeting growing global LNG demand. Building on our leadership in LNG and, together with our long-standing partners CCC and GAC, we are proud to continue delivering world-class LNG facilities that combine scale, efficiency, and significantly reduced carbon intensity.”
About Technip Energies
Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality.
Through collaboration and excellence in execution, our 17,000+ employees across 34 countries are fully committed to bridging prosperity with sustainability for a world designed to last.
Technip Energies generated revenues of €6.9 billion in 2024 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter.
For further information: www.ten.com
Contacts
Investor Relations
Phillip Lindsay
Vice-President Investor Relations
Tel: +44 207 585 5051
Email: Phillip Lindsay
Media Relations
Jason Hyonne
Press Relations & Social Media Manager
Tel: +33 1 47 78 22 89
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 2024 Annual Financial Report filed on March 10, 2025, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) and in the Company’s 2025 Half-Year Report filed on July 31, 2025 with the AFM and the 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.
1 A “major” award for Technip Energies is a contract award representing above €1 billion of revenue. This award was recorded in Q1 2026 in the Project Delivery segment.
2 Million tons per annum
Attachment
FAQ**
How will the major LNG contract awarded to Technip Energies THNPF for the North Field West project impact the company's revenue and growth projections in the upcoming fiscal years?
What specific strategies is Technip Energies THNPF implementing to enhance efficiency and reduce carbon intensity in the construction of the two mega LNG trains?
In light of expanding Qatar’s total LNG export capacity from 77 MTPA to 142 MTPA, how does Technip Energies THNPF plan to maintain its competitive edge in the global LNG market?
Given the strategic partnership with QatarEnergy and the significant investment involved, what are the potential risks and uncertainties that Technip Energies THNPF anticipates in the execution of the North Field West project?
**MWN-AI FAQ is based on asking OpenAI questions about Technip Energies (OTC: THNPF).
NASDAQ: THNPF
THNPF Trading
0.0% G/L:
$41.23 Last:
300 Volume:
$41.23 Open:
