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TechnipFMC Awarded Significant Ethylene Furnaces Modernization Contract Stimulating Investment in the Netherlands and Reducing Total...

30/09/2020

Press release | September 30, 2020 TechnipFMC Awarded Significant Ethylene Furnaces Modernization Contract Stimulating Investment in the Netherlands and Reducing Total Site Emissions at Shell's Moerdijk Plant LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Sep. 30, 2020-- TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) has been awarded a significant(1) contract by Shell Moerdijk for the Engineering, Procurement and module Fabrication (EPF) for proprietary equipment and related services for eight ethylene furnaces at the Moerdijk petrochemicals complex in the Netherlands.

The new furnaces will utilize TechnipFMC's innovative multi-lane radiant coil design and will replace 16 older units without reducing capacity at the facility, while increasing energy efficiency and reducing greenhouse gas emissions. This upgrade is expected to reduce Shell Moerdijk's annual CO2 emissions by about 10 percent.

The new furnaces will be shipped to the site in modules, enabling the cracker to continue to operate throughout the upgrade project.

Catherine MacGregor, President Technip Energies, commented: We are very pleased to be selected for this important revamp project for Shell and commend the efforts by the project team to reduce the CO2 emissions. This award also demonstrates our leadership in ethylene technology and the innovations we are achieving in improving energy efficiency.

Richard Zwinkels, General Manager Shell Moerdijk commented: We continue to invest in innovation, even in difficult economic times. This investment at Moerdijk contributes to the reduction of carbon emissions from our manufacture of chemicals and to Shell's ambition of becoming a net-zero emissions energy business by 2050 or sooner. We aim to achieve our ambition in step with society.

(1)

For TechnipFMC, a significant contract ranges between $75 million and $250 million.
LINK: https://www.technipfmc.com/en/media/press-releases/2020/09/technipfmc-...
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