TechnipFMC to Split into Two Companies
market focus to include biofuels and alternative energy projects.That company will have about 15,000 employees.TechnipFMC received a record volume of orders in the second quarter, supported by new liquefied natural gas (LNG) projects. The company recently won a $7.6 billion contract from Russia's Novatek for the Arctic LNG-2 project in western Siberia.MacGregor told investors that additional LNG projects were likely meet global demand for the fuel through 2035 and 2040.(Reporting by Arathy S Nair and Liz Hampton; Additional reporting by Gwenaelle Barzic; Editing by Maju Samuel and Richard Chang
TechnipFMC: Record Orders, Backlog in Q2
the business segment and the total backlog for projects for the company increased more than 75 percent since year-end to $25.8 billion.Pferdehirt said TechnipFMC was benefiting from the new wave of liquefied natural gas (LNG) projects. The company on Tuesday won a $7.6 billion contract from Russia's Novatek for the Arctic LNG-2 project in western Siberia."The LNG market growth continues to be underpinned by the structural shift towards natural gas as an energy transition fuel, helping to meet the increasing demand for energy while lowering greenhouse gases," Pferdehirt said.TechnipFMC said
NOVATEK wins Payutskiy License, Gydan
PAO NOVATEK announced that OOO NOVATEK-Yurkharovneftegas, a wholly owned subsidiary, won the bid for a geological survey, exploration and production license for the Payutskiy subsoil area. The Payutskiy license area has estimated hydrocarbon resources of 354 million barrels of oil equivalent according to the Russian resource classification system and contains the Nanadyanskoye gas field. The license term is 27 years and the auction resulted in a one-time payment for the subsoil use in the amount of RR 66 million rubles. The Payutskiy license area is located in the Krasnoyarsk Territory
Technip Cuts Unit Margin Goal, Cites Russia Sanctions Risk
insufficiently cautious, we estimate our margin to be about a percentage point less this year," he said in a statement. Last May, Technip was awarded a contract for engineering, procurement and construction for Yamal LNG, a giant liquefied natural gas export project in Siberia owned by Russia's Novatek , French oil company Total and China's CNPC. The deal boosted the group's order backlog to 19.9 billion euros ($26.76 billion) at end-June, from 14.9 billion a year earlier. "Yamal LNG may be affected by the geopolitical crisis," said Natixis analyst Alain Parent, who has a "
Arctic Energy Exploration Efforts Heat Up
to conduct year-round shuttle operations between Murmansk and Dudinka on the Arctic coast. The first vessel, Norilsky Nikel, was delivered in 2006, followed by Monchegorsk, Zapolyarny, Talnakh, Nadezhda and Enisey. Aker Arctic has also designed a fleet of DAS icebreaking LNG tankers for the joint Novatek/Total Yamal LNG project in Northern Russia on the Ob River where the river meets the Arctic Ocean. When all 16 ships are complete, the company says a ship will arrive to take on cargo every 38 hours and carry the product to Asian markets. According to Yamal LNG, the Sabetta seaport&mdash
Russian PSV Icebreaker Named, Yards to Build More
lead ship of the series was named after Vitus Bering, an explorer and officer in the Russian Navy. The President witnessed the signing of a master cooperation agreement between Sovkomflot and United Shipbuilding Corporation to build supply vessels of this class and an agreement between Gazprom and Novatek to create a joint venture to produce LNG on the Yamal Peninsula. President Putin said: " This is one of the most advanced ships in the world. Today Russia has the world’s largest nuclear-powered icebreaker fleet and we will continue our efforts to develop the full range of special
February 2025
