Technip Energies, the leading liquefied natural gas engineering company, reported reduced first-half profits and revenues as the full withdrawal from the Arctic LNG II project in the Gydan Peninsula of Russia was completed amid the gain of a lucrative contract for the LNG expansion in Qatar and with a new record backlog of contracts.

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Technip Energies, the leading Europe-based energy and liquefied natural gas project engineering company, forecast a strong LNG market in 2023 and beyond and reported high annual net profits as it advanced projects in Qatar and Mozambique and also planned to seek more mid-scale LNG plant contracts.

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Technip Energies, the leading energy and LNG engineering company, said events in 2022 had underlined the need for increased spending in LNG and natural gas as the Euronext exchange-listed company continued its “orderly exit” from the Arctic LNG II project in Russia.

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Technip Energies, the leading energy and LNG project company with contracts at leading global ventures including in Arctic Russia, offshore Africa and in Mexico, reported a jump in first-quarter revenues and profits.

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