Technip Energies and Chiyoda Awarded a Major LNG Contract for the North Field East Project in Qatar

Press release | February 09 2021

Technip Energies and Chiyoda Awarded a Major LNG Contract for the North Field East Project in Qatar LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) is pleased to announce that CTJV, a joint venture between Chiyoda Corporation ( Chiyoda ) and Technip Energies, has been awarded a major(1) Engineering, Procurement, Construction and Commissioning ( EPCC ) contract by Qatar Petroleum for the onshore facilities of the North Field East Project ( NFE ).

This award will cover the delivery of 4 mega trains, each with a capacity of 8 million tons per annum ( Mtpa ) of Liquefied Natural Gas ( LNG ), and associated utility facilities. It will include a large CO2 Carbon Capture and Sequestration facility, leading to more than 25% reduction of Green House Gas emissions when compared to similar LNG facilities.

The new facilities will receive approximately 6 billion standard cubic feet per day of feed gas from the Eastern sector of Qatar's North Field, which is the largest non-associated gas field in the world. The expansion project will produce approximately 33 Mtpa of additional LNG, increasing Qatar's total production from 77 to 110 Mtpa.

Arnaud Pieton, President Technip Energies, commented: We are extremely honored to have been awarded by Qatar Petroleum this prestigious mega LNG project along with our long-time partner, Chiyoda. It demonstrates the continuity and the strength of our joint venture after the successful delivery of the 6 existing mega LNG trains. This award reflects Technip Energies' ability to integrate technologies towards low carbon LNG and supports our vision to accelerate the energy transition journey.

Technip Energies is a strong player in Qatar, a strategic country for the Company, with a local presence since 1986.

(1) For TechnipFMC, a major contract is over $1.0 billion.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains forward-looking statements as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Words such as expect, plan, intend, would, will, and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, and include any statements with respect to the potential separation of the Company into TechnipFMC and Technip Energies, the expected financial and operational results of TechnipFMC and Technip Energies after the potential separation and expectations regarding TechnipFMC's and Technip Energies' respective capital structures, businesses or organizations after the potential separation. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from TechnipFMCs historical experience and TechnipFMCs present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see TechnipFMCs risk factors set forth in TechnipFMCs filings with the U.S. Securities and Exchange Commission, which include TechnipFMCs Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, TechnipFMCs filings with the Autorit des march s financiers or the U.K. Financial Conduct Authority, as well as the following:

risks associated with disease outbreaks and other public health issues, including the coronavirus disease 2019 ( COVID-19 ), their impact on the global economy and the business of TechnipFMCs company, customers, suppliers and other partners, changes in, and the administration of, treaties, laws, and regulations, including in response to such issues and the potential for such issues to exacerbate other risks TechnipFMC faces, including those related to the factors listed or referenced below;

risks associated with the impact or terms of the potential separation;

risks associated with the benefits and costs of the potential separation, including the risk that the expected benefits of the potential separation will not be realized within the expected time frame, in full or at all;

risks that the conditions to the potential separation, including regulatory approvals, will not be satisfied and/or that the potential separation will not be completed within the expected time frame, on the expected terms or at all;

the expected tax treatment of the potential separation, including as to shareholders in the United States or other countries;

risks associated with the sale by TechnipFMC of shares of Technip Energies to Bpifrance, including whether the conditions to closing will be satisfied;

changes in the shareholder bases of the Company, TechnipFMC and Technip Energies, and volatility in the market prices of their respective shares, including the risk of fluctuations in the market price of Technip Energies' shares as a result of substantial sales by TechnipFMC of its interest in Technip Energies;

risks associated with any financing transactions undertaken in connection with the potential separation;

the impact of the potential separation on TechnipFMCs businesses and the risk that the potential separation may be more difficult, time-consuming or costly than expected, including the impact on TechnipFMCs resources, systems, procedures and controls, diversion of management's attention and the impact on relationships with customers, governmental authorities, suppliers, employees and other business counterparties;

unanticipated changes relating to competitive factors in TechnipFMCs industry;

TechnipFMCs ability to timely deliver TechnipFMCs backlog and its effect on TechnipFMCs future sales, profitability, and TechnipFMCs relationships with T

LINK:	https://www.technipfmc.com/en/media/press-releases/2021/02/technip-ene...
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