LNG

April 27 (LNGJ) - TechnipFMC, the US energy technology and subsea company, has arranged the sale of 25 million shares in the spun-off LNG project arm, Technip Energies. The placement of the stocks represented 14 percent of the share capital of Technip Energies. TechnipFMC said it still retained a stake of around 31 percent of Technip Energies. TechnipFMC also announced it received a Notice to Proceed for a subsea production system contract from Australian LNG operator Santos for the Barossa gas field project to boost feed-gas resources for Darwin LNG in Australia’s Northern Territory.

   The field is located 300 kilometres north of Darwin at a water depth of around 130 metres. “The contract scope covers the supply of subsea trees and associated control systems, manifolds and wellheads, as well as installation and commissioning support, which will help to extend the life of the existing Darwin LNG facility,” said Jonathan Landes, President of Subsea at TechnipFMC.

TechnipFMC, the Franco-US energy engineering business, has re-started the process of spinning off Technip Energies, one of the world’s leading LNG project engineers, and has already put several financial transactions in place to complete the operation in the next couple of months.

TechnipFMC, the LNG and energy engineering company, reaffirmed that its planned transaction to separate into two companies, TechnipFMC and Technip Energies, is well on track for completion in the first half of 2020.