LNG

Feb 16 (LNG) - TechnipFMC has completed the spin-off transaction to create two leading publicly traded companies, TechnipFMC for subsea and technology and Technip Energies for LNG and energy project engineering. In connection with the separation, the Technip Energies technical reference price was set at €9.00 ahead of its direct listing on the Euronext Paris Exchange where it will trade under the symbol “TE”.

   “I am delighted to announce the successful completion of the separation transaction. As the market leader and industry’s only fully integrated pure-play, we are uniquely positioned to transform our clients’ project economics, helping them to unlock traditional and new energy resources,” said Doug Pferdehirt, Chairman and Chief Executive of TechnipFMC.

Engie of France, whose widespread operations include utilities, gas networks and a liquefied natural gas business, has named Catherine MacGregor as its new Chief Executive after she had previously been lined up to head the LNG engineering spin-off from TechnipFMC.