LNG

Technip Energies, the leading European energy and liquefied natural gas project engineers, reported increased net profits and revenues as the backlog was also boosted by Middle East LNG contract awards in the United Arab Emirates and in Oman.

Nov 2 (LNGJ) - LNG and energy engineering company Technip Energies reported nine-month net income of €207.3 million ($219M), down from €223M in the same three quarters of last year. Nine-month revenues declined slightly to €4.40 billion from €4.86Bln in the same period of 2022. The company pointed to an increased LNG and low-carbon front-end engagement and commercial pipeline.

   “In Technology, Products & Services (TPS), top line growth is robust with the segment consistently contributing more than 30 percent of group revenues year-to-date,” said Arnaud Pieton, Chief Executive of Technip. “Turning to market outlook, in LNG, we are engaged on a significant number of prospects across North America, Africa and the Middle East and see good potential to selectively secure additional orders, including low-carbon LNG, over the next 12-24 months,” the CEO stated. “Beyond LNG, energy and other industries are demonstrating real appetite and commitment to decarbonize and adopt cleaner solutions,” added Pieton.