Technip Energies secured major contracts, including a groundbreaking project for carbon capture in the UK, reporting an adjusted order intake of €10 billion for FY 2024.

Information on the Target

Technip Energies reported an adjusted order intake of €10,011 million for the fiscal year 2024, reflecting a robust book-to-bill ratio of 1.5. Key contracts secured during the fourth quarter included a significant contract for the groundbreaking Net Zero Teesside Power project, which aims to be the world’s first gas-fired power station equipped with carbon capture and storage technology. Additionally, Technip Energies won a major contract with TotalEnergies for the topsides of the GrandMorgu Floating Production, Storage and Offloading (FPSO) vessel in Suriname, as well as numerous studies, services contracts, and smaller projects.

For context, €1 billion is designated as a 'major' contract for Technip Energies. In the financial review of the first nine months of 2024, the company has demonstrated strong performance metrics across various business segments.

Industry Overview in the Target’s Specific Country

The energy sector in the UK, particularly in renewable energy and carbon capture, is undergoing significant transformation. The UK government has committed substantial funding to projects aimed at reducing carbon em