TotalEnergies Signs Deal with Technip Energies

TotalEnergies Signs Deal with Technip Energies
TotalEnergies (NYSE: TTE) and Technip Energies (PARIS: TE) have announced that they have signed a deal to jointly develop low carbon solutions for LNG production and offshore facilities.

TotalEnergies (NYSE: TTE) and Technip Energies (PARIS: TE) have announced that they have signed a deal to jointly develop low carbon solutions for liquefied natural gas (LNG) production and offshore facilities to accelerate the energy transition.

As part of the agreement, the companies noted that they will explore new concepts and technologies in order to reduce the carbon footprint of existing facilities and greenfield projects in “key areas” such as LNG production, cryogeny, the production and use of hydrogen for power generation, and processes for Carbon Capture, Utilization and Storage (CCUS).

The partnership is based on a common belief that cooperation across the industry is needed to achieve energy transition goals, the companies said in a joint statement.

“For TotalEnergies as a global LNG player, this collaboration brings opportunities to further innovate and strengthen our expertise in reducing GHG emissions, improving energy efficiency for our LNG and offshore assets, and developing innovative technologies such as hydrogen,” Arnaud Breuillac, TotalEnergies’ president of exploration and production, said in a company statement. 

“It is in line with our company’s ambition to be carbon neutral by 2050. We are looking forward to cooperating with Technip Energies to find solutions helping to advance towards a low carbon future,” he added.

Commenting on the partnership, Arnaud Pieton, the chief executive officer of Technip Energies, said, “we are very proud to partner with TotalEnergies, a long standing client and partner to bring together our expertise and know-how in LNG and offshore projects to accelerate the transition towards a low carbon society”.

“This agreement reflects our commitment to provide tangible and decarbonized solutions from the earliest concept to delivery and beyond,” he added in the statement.

TotalEnergies is the world’s second largest privately owned LNG player, according to the company’s website, which outlines that the business will have a global portfolio of nearly 50 million tons per annum by 2025. Technip Energies describes itself as a leading engineering and technology company for the energy transition, with leadership positions in LNG, hydrogen, and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry, and COmanagement.

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