LNG

TechnipFMC has sold 17.6 million shares in Technip Energies, one of the world’s leading liquefied natural gas engineering companies, to Dutch firm HAL Investments.

The sale price of the shares was set at €11.15 ($13.20) per share, yielding total gross proceeds of €196.2 million.

HAL, which has a varied portfolio of international investments and is listed on the Euronext Exchange in Amsterdam, has agreed to a lock-up of 180 days for its shares in Technip Energies.

Upon completion of the sale, representing about 9.9 percent of the issued and outstanding share capital of Technip Energies, TechnipFMC is still left with a direct stake of around 12.3 percent of the shares in Technip Energies.

TechnipFMC completed a spin-off of Technip Energies in February 2021.

Technip Energies is now pursuing its own path as one of the leading LNG engineering companies with current LNG export projects in nations such as Russia, Mexico and Mozambique.

The spin-off reversed the 2017 merger of Technip of France and FMC Technologies of the US, a transaction valued at the time at $20Bln as it created TechnipFMC as a fully-integrated subsea and onshore provider and Technip Energies as a stand-alone company with the old Technip heritage.

Its portfolio also includes the construction of the world’s largest liquefaction Trains in Qatar with 7.8 MTPA of capacity.

In its most recent projects the Technip Energies division of the former TechnipFMC entity constructed Yamal LNG in Russia’s northern Siberia region with Japanese partners Chiyoda Corp. and JGC Corp.

It has also been contracted for Arctic LNG II by the same operator of Yamal, Russia’s Novatek, and is being partnered by Italy’s Saipem and Russian firm NIPIGas, a subsidiary of the Gazprom Neft Group, to construct a plant with almost 20 MTPA of output from three Trains.

Technip Energies, which is currently completing the Coral South FLNG project offshore Mozambique, was also awarded the Costa Azul export plant contract in Mexico by Sempra Energy.