Technip Energies Secures Major LNG Bunkering Project Contract in Oman

France's Technip Energies has secured a significant contract from TotalEnergies and OQ for the Marsa LNG bunkering project in Sohar, Oman. The contract involves the engineering, procurement, and construction of a natural gas liquefaction train with a production capacity of 1 Mtpa, aiming to produce LNG for marine fuel to reduce the shipping industry’s carbon footprint. The project is a collaboration between TotalEnergies and OQ, with TotalEnergies owning 80% and OQ holding 20% of the complex. Technip Energies considers this a substantial contract, estimating it to bring in revenue ranging from €500 million to €1 billion.

Key Takeaways

• Technip Energies awarded substantial contract for LNG bunkering project in Sohar, Oman.
• Contract includes engineering, procurement, and construction of natural gas liquefaction train with 1 Mtpa capacity.
• LNG produced to be used as marine fuel to reduce shipping industry’s carbon footprint.
• Marsa LNG project developed by TotalEnergies (80%) and OQ (20%).
• Contract award represents between €500 million and €1 billion of revenue for Technip Energies.

Analysis

Technip Energies' significant contract for the Marsa LNG bunkering project in Sohar, Oman with TotalEnergies and OQ will influence the global shipping and energy sectors. The project's focus on producing LNG for marine fuel will impact the shipping industry's carbon footprint, aligning with environmental goals. The partnership between TotalEnergies and OQ signifies a strategic move toward sustainable energy solutions. Technip Energies anticipates substantial revenue, indicating positive growth potential for the company. The success of this project could encourage further investment in LNG infrastructure, reinforcing the global shift toward cleaner energy sources and sustainable practices.

Did You Know?

• LNG Bunkering Project: The project involves the development of infrastructure for liquefied natural gas (LNG) bunkering, which refers to the process of providing LNG as fuel for marine vessels. This innovative approach aims to reduce the environmental impact of the shipping industry by utilizing LNG, which has a lower carbon footprint compared to traditional marine fuels.

• Natural Gas Liquefaction Train: This refers to the facility where natural gas is cooled and transformed into its liquid state, making it suitable for transportation and storage as LNG. The construction of a liquefaction train with a production capacity of 1 Mtpa indicates a significant investment in the infrastructure for LNG production.