Technip Energies, JGC and NPCC Received Limited Notice To Proceed for ADNOC’s Ruwais LNG Project in the UAE

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Technip Energies (PARIS: TE), leader of a joint venture (TJN RUWAIS JV) with JGC and NPCC, have received a Limited Notice To Proceed (LNTP) from ADNOC to commence early engineering, procurement and construction (EPC) activities at the Ruwais low-carbon LNG project, located in Al Ruwais Industrial City, Abu Dhabi.

The project will consist of two natural gas liquefaction trains with a total LNG production capacity of 9.6 Mtpa(1). The plant will use electric-driven motors instead of conventional gas turbines and will be powered by nuclear energy.

The plant is set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power, making it one of the lowest-carbon intensity LNG plants in the world.

The project will significantly enhance ADNOC's LNG production capacity aligning with global natural gas demand and the shift towards decarbonization.

Arnaud Pieton, CEO of Technip Energies, commented, “LNG is a critical source of energy on the world’s pathway to net zero and Technip Energies is committed to supporting its continued development while concretely addressing the necessary demand being placed on the industry for emissions abatement. The Ruwais LNG project reflects the future. It innovates for a decarbonized LNG industry. With zero carbon energy sources to power electrified LNG trains, we are setting a new standard for LNG production. This project not only enhances our strong partnership with ADNOC but also reinforces our position as a leader in low-carbon LNG. We are proud to be part of this project that perfectly aligns with our ambition of enabling net zero solutions and meeting the challenge of an affordable, available and sustainable energy.”

Farhan Mujib, Representative Director, President of JGC, commented, “We are highly honored to participate in this innovative low-carbon LNG Project. With the backdrop of global focus on decarbonization, the JGC Group is accelerating the promotion of energy transition, and the project is firmly in line with the direction of our strategy. We commit to leveraging our capabilities and experience for the Ruwais low-carbon LNG Project, bringing to the project our proven track record in the LNG field. We are convinced this will contribute to the success of the project and enhance economic growth in the UAE.”

Ahmed Al Dhaheri, CEO of NPCC, commented, "We are deeply honored to be selected for the Ruwais low-carbon LNG Project with our esteemed partners, marking a significant step toward environmental sustainability and global energy transition. Utilizing clean energy for LNG production sets a new industry standard, drastically lowering carbon emissions and paving the way for a cleaner future. We're proud to be part of a project that not only secures energy but also showcases the UAE's role in leading the energy transition."

(1) Mtpa: million tons per annum

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.ten.com.

Important Information for Investors and Securityholders

Forward-Looking Statement

This Press Release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

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Markets (AFM) and the French Autorité des Marchés Financiers which include a discussion of factors that could affect the Company's future performance and the markets in which the Company operates. Please also see Section 1.3 (Principal Risks and Uncertainties) of the Company's 2023 Half-Year Report which was filed with the AFM and the AMF on July 27, 2023.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

   Contacts

Investor relationsPhil Lindsay VP Investor RelationsTel: +44 207 585 5051Email: Phillip Lindsay Media relationsJason HyonnePress Relations & Social Media ManagerTel: +33 1 47 78 22 89Email: Jason Hyonne

 

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