PARIS – Technip Energies (Paris:TE) (ISIN:NL0014559478) and Baker Hughes (NASDAQ: BKR), two main vitality expertise corporations, introduced Thursday a Memorandum of Understanding (MoU) that units the groundwork for his or her cooperation on the joint improvement of a brand new above 1 and as much as 2 million tons every year (MTPA) vary liquefied pure fuel (LNG) modularized answer for the onshore market.
With the ambition to cut back time- to-market for LNG to satisfy at present’s vitality demand, this joint improvement goals to offer an extra providing to the 2 corporations’ respective proprietary LNG modularized options: Baker Hughes’ 1 MTPA vary LNG Mid-scale Modular Answer (MMS), with a manufacturing capability of 0.8 to 1 MTPA, and Technip Energies’ ‘SnapLNGTM’ with a manufacturing capability of two to three MTPA.
Technip Energies and Baker Hughes are acknowledged business leaders within the LNG area. The settlement builds on their long-standing collaboration and confirmed observe document of executing LNG initiatives, recognizing the essential development in mid-size LNG as demand will increase for modular LNG initiatives able to producing extra fuel capability.
Arnaud Pieton, CEO of Technip Energies, acknowledged: ‘Cooperating in advancing expertise in LNG with our long-term associate Baker Hughes is a crucial step for the vitality business and for our shoppers. The mixture of our experience, modular method and references will allow shorter supply occasions and higher affordability. Importantly, it displays Technip Energies’ dedication to ship low-emission liquefaction options by means of electrification and the elimination of fugitive emissions to speed up the vitality transition’.
Lorenzo Simonelli, Chairman and CEO of Baker Hughes, stated: ‘This settlement is a milestone in our relationship with Technip Energies, and it’s mutually useful to each corporations, leveraging our respective expertise experience and confirmed observe document within the LNG area whereas maximizing advantages for our prospects. LNG will proceed to play a key position to unravel the vitality trilemma, and the flexibility to speed up time-to-production by means of modularized options is usually a differentiator.’
Technip Energies’ portfolio already consists of SnapLNGTM, a modularized compact and totally electrified answer for the two to three MTPA, which offers higher certainty round each prices and schedule. It covers the liquefaction in addition to the mandatory pre-treatment and utilities models. SnapLNGTM highlights Technip Energies’ expertise of greater than a decade in efficiently designing and delivering LNG modular initiatives and is especially suited to low-to-zero carbon footprint LNG developments.
Baker Hughes has offered plug-and-play modular options for LNG for over 10 years, catering to different-sized initiatives. Its 1 MTPA vary LNG Mid-scale Modular Answer (MMS) offers a versatile, standardized, and scalable answer for reducing the carbon footprint of the liquefaction course of and quicker time to LNG.
About Technip Energies
Technip Energies is a number one Engineering & Expertise firm for the vitality transition, with management positions in Liquefied Pure Gasoline (LNG), hydrogen and ethylene in addition to rising market positions in blue and inexperienced hydrogen, sustainable chemistry and CO2 administration. The corporate advantages from its sturdy challenge supply mannequin supported by intensive expertise, services providing.
Working in 34 nations, our 15,000 individuals are totally dedicated to bringing our shopper’s revolutionary initiatives to life, breaking boundaries to speed up the vitality transition for a greater tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (‘ADRs’) buying and selling over-the-counter in the USA.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an vitality expertise firm that gives options to vitality and industrial prospects worldwide. Constructed on a century of expertise and conducting enterprise in over 120 nations, our revolutionary applied sciences and providers are taking vitality ahead – making it safer, cleaner and extra environment friendly for folks and the planet.
Go to us at bakerhughes.com.
Essential Data for Buyers and Securityholders
Ahead-Trying Assertion
This launch accommodates ‘forward-looking statements’ as outlined in Part 27A of the USA Securities Act of 1933, as amended, and Part 21E of the USA Securities Change Act of 1934, as amended. Ahead-looking statements normally relate to future occasions and anticipated revenues, earnings, money flows or different features of Technip Energies’ operations or working outcomes. Ahead-looking statements are sometimes recognized by the phrases ‘imagine,’ ‘count on,’ ‘anticipate,’ ‘plan,’ ‘intend,’ ‘foresee,’ ‘ought to,’ ‘would,’ ‘may,’ ‘might,’ ‘estimate,’ ‘outlook,’ and related expressions, together with the adverse thereof. The absence of those phrases, nevertheless, doesn’t imply that the statements should not forward-looking. These forward-looking statements are based mostly on Technip Energies’ present expectations, beliefs and assumptions regarding future developments and enterprise situations and their potential impact on Technip Energies. Whereas Technip Energies believes that these forward-looking statements are cheap as and when made, there might be no assurance that future developments affecting Technip Energies will probably be those who Technip Energies anticipates.
All of Technip Energies’ forward-looking statements contain dangers and uncertainties (a few of that are vital or past Technip Energies’ management) and assumptions that might trigger precise outcomes to vary materially from Technip Energies’ historic expertise and Technip Energies’ current expectations or projections. Ought to a number of of those dangers or uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes might fluctuate materially from these set forth within the forward-looking statements. For info relating to recognized materials elements that might trigger precise outcomes to vary from projected outcomes, please see Technip Energies’ threat elements set forth in Technip Energies’ filings with the U.S. Securities and Change Fee, which embody modification no. 4 to Technip Energies’ registration assertion on Type F-1 filed on February 11, 2021.
Ahead-looking statements contain inherent dangers and uncertainties and communicate solely as of the date they’re made. Technip Energies undertakes no obligation to and won’t essentially replace any of the forward-looking statements in mild of latest info or future occasions, besides to the extent required by relevant regulation.
Contact:
Investor
Technip Energies
Phil Lindsay
Vice-President
Investor Relations
Tel: +44 20 7585 5051
Media
Stella Fumey
Director
Press Relations & Digital Communications
Tel: +33 (1) 85 67 40 95
Jason Hyonne
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
Media
Chiara Toniato
Cell: +39 3463823419
E-mail: chiara.toniato@bakerhughes.com
