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☆ This unique energy stock is a 'grand slam' for investors, according to Benchmark
▼ + stars: | 2024-04-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The oilfield services company TechnipFMC has become a "grand slam" for investors after its stock broke out to multi-year highs and recently topped a $10 billion market value, according to Benchmark. "In baseball terms, this is a Grand Slam with the stock hitting the screens of momentum, value, large cap, and income investors," analyst Kurt Hallead told clients in a note Monday. It is also involved in emerging areas such as carbon capture and storage that are important for the energy transition. The oil industry is investing in carbon capture technology as a way to reduce emissions for heavy industries that are hard to decarbonize. Rystad Energy puts the total addressable market for carbon capture and storage (CCS) at $270 billion, Benchmark said.

Persons: TechnipFMC, Kurt Hallead, Hallead, — CNBC's Michael Bloom Organizations: FMC Technologies, Rystad Energy, CCS Locations: Technip, France, North

☆ Technip Energies shares plunge after Le Monde report on Russian gas project
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

Oct 19 (Reuters) - Technip Energies (TE.PA) shares plummeted on Thursday after French newspaper Le Monde said the oil and gas company may have failed to comply with European Union sanctions against Russia by continuing to supply equipment to a Russian gas project. Technip Energies said in a statement after its shares fell as much as 22% that it had always respected international sanctions and its contractual obligations regarding the Arctic LNG2 project in Russia. "Technip Energies has worked with the relevant authorities and has complied with sanctions gradually imposed by the European Union, the United States and Britain," it said. The equipment delivered by Technip involved two modules for the construction of a liquefaction train worth around 450 million euros, Le Monde said, citing Russian customs records, maritime data and satellite images. "$800 million of market cap came off, it's a very harsh response, and suggests the news scared investors out there," said the analyst, who spoke on condition of anonymity, referring to the Le Monde story.

Persons: Le Monde, Monde, Technip, China's CNPC, Piotr Lipinski, Nathan Vifflin, Benjamin Mallet, Silvia Aloisi, David Evans Organizations: Union, Russia, European Union, Le, Japan, Mitsui & Co, Thomson Locations: Russian, Russia, United States, Britain, Paris, EU, Ukraine, Gdansk

☆ Livista plans German lithium refinery for EV batteries
▼ + stars: | 2023-06-07 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

LONDON, June 8 (Reuters) - Livista Energy said on Thursday it plans a lithium refinery for electric vehicles (EV) batteries in Germany that should launch production in 2026 and has partnered with French oil and gas services provider Technip Energies (TE.PA) to design the plant. Luxembourg-based Livista said it initially aims to refine 40,000 tonnes of lithium annually at the plant, or enough for batteries for around 850,000 EVs, with the potential to double capacity over time. The European lithium refiner said that recycled lithium from batteries should make up 50% of the plant's capacity by 2030. The EU's plans for battery independence also include recycling battery materials like lithium. As lithium mines and refineries take years to develop, building out European supply will be a lengthy process.

Persons: Livista, Jean, Marc Ichbia, Technip, Nick Carey, David Evans Organizations: Livista Energy, European Union, Savannah Resources, Thomson Locations: Germany, Luxembourg, Europe, China, Savannah, Western

March 2 (Reuters) - French oil and gas services provider Technip Energies (TE.PA) announced on Thursday lower annual revenue and guidance for 2023, citing the impact of its exit from a major LNG project in Russia. By the end of Dec. 2021, the Russian projects accounted for 23% of Technip Energies' order backlog. Annual adjusted revenue came in at 6.4 billion euros ($6.82 billion), down 4% from 2021 and below a company-provided consensus of 6.5 billion on average. The group's Project Delivery segment had annual adjusted revenue down 6% year-on-year, to 5 billion euros, but adjusted revenue for the Technology, Product and Service (TPS) branch was up 8% from 2021, to 1.4 billion euros. In 2023, Technip Energies said it expected adjusted revenue of 5.7-6.2 billion euros and a recurring core margin of 6.7%–7.2% — both below 2022 guidance of 6.2-6.5 billion euros and 6.7%-6.9%.

☆ Technip Energies eyes exit from Arctic LNG 2 project in H1 2023
▼ + stars: | 2022-10-20 | by ( Juliette Portala | ) www.reuters.com time to read: +2 min

SummarySummary Companies Company now includes Arctic LNG 2 project in FY guidanceSees FY revenue at 6.2-6.5 bln euros, core margin at 6.7-6.9%Anticipates Exit Framework Agreement completion in H1 2023Oct 20 (Reuters) - Technip Energies (TE.PA) expects to fully exit the liquefied natural gas project (LNG) Arctic LNG 2 led by Moscow-listed gas producer Novatek (NVTK.MM) next year, the French oil and gas services provider said on Thursday. Before what Moscow calls its "special military operation", Arctic LNG 2 was set to be launched in 2023 and reach full production capacity of almost 20 million tonnes of LNG a year in 2026. The stock of Technip Energies, which specialises in engineering and technology for the energy industry, has recovered much of the ground lost in the immediate aftermath of the invasion, when the shares halved in value in just ten days. Including the expected contribution from Arctic LNG 2, Technip Energies forecast full-year revenue of 6.2-6.5 billion euros ($6.1-$6.3 billion) and a recurring core margin of 6.7%-6.9%. Its adjusted revenue in the third quarter amounted to 1.60 billion euros, against 1.67 billion a year earlier.

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