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GLOBENEWSWIRE


TECHNIP ENERGIES, JGC AND NPCC RECEIVED LIMITED NOTICE TO PROCEED FOR ADNOC’S
RUWAIS LNG PROJECT IN THE UAE






News provided by

TECHNIP ENERGIES

Mar 13, 2024, 1:00 PM ET

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.

All of the Company’s forward-looking statements involve risks and uncertainties,
some of which are significant or beyond the Company’s control, and assumptions
that could cause actual results to differ materially from the Company’s
historical experience and the Company’s present expectations or projections.
Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from
those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results
to differ from projected results, please see the Company’s risk factors set
forth in the Company’s 2022 Annual Financial report filed on March 10, 2023,
with the Dutch Authority for the Financial

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 relations
Phil Lindsay
VP Investor Relations
Tel: +44 207 585 5051
Email: Phillip Lindsay Media relations
Jason Hyonne
Press Relations & Social Media Manager
Tel: +33 1 47 78 22 89
Email: Jason Hyonne

 

Attachment

 * PR_T.EN_Ruwais LNG_EN




NOTE: This content is not written by or endorsed by "KTVX", its advertisers, or
Nexstar Media Inc.

For inquiries or corrections to Press Releases, please reach out to
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