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Louisiana carbon capture and sequestration project
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Technip Energies and Turner Industries Awarded Contract by ExxonMobil for Louisiana Carbon Capture and Sequestration Project

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Technip Energies (PARIS:TE), in consortium with Turner Industries, has been awarded the Engineering, Procurement, and Construction (EPC) contract by ExxonMobil Low Carbon Solutions Onshore Storage LLC. Technip Energies will oversee the engineering and procurement while Turner Industries will be responsible for the construction.

The contract covers ExxonMobil Low Carbon Solutions’ plans for the delivery of a Carbon Capture, Utilization & Storage (CCUS) system that could condition, compress, and transport, for eventual storage, up to 800,000 metric tons per year of CO2 from a manufacturing plant located in Convent, Louisiana, and owned by Nucor Corporation, North America’s largest steel producer and recycler.

The Nucor manufacturing site produces direct reduced iron (DRI), a raw material that is mixed with recycled scrap at Nucor steel mills, which make higher grades of steel products, including automobile parts, household appliances, and tools and machinery. The CCUS system is designed to enable the Nucor facility to produce DRI with up to 80% less greenhouse gas emissions than traditional blast furnace iron production.

ExxonMobil selected Technip Energies to perform the Front-End Engineering Design (FEED), and together with Turner Industries worked to solidify the EPC execution approach.

Christophe Malaurie, SVP Decarbonization Solutions of Technip Energies, commented: “This award is a testament of our leading expertise in delivering efficient CCUS solutions. By supporting ExxonMobil’s planned emissions reduction project at the Nucor direct reduced iron plant, we together with our partner Turner Industries, are directly contributing to emissions reductions of hard-to-abate industries.”

Mark Brittain, President of Construction for Turner Industries, said:  "Building on our history of successful collaborations with ExxonMobil, Turner Industries is honored to contribute to this significant carbon capture and storage project. This aligns with our commitment to delivering innovative solutions in the carbon capture and storage space and advancing sustainable industrial processes. We are excited to partner with Technip Energies and ExxonMobil on this critical project, leveraging our construction expertise to support Nucor Corporation's goal of net-zero emissions by 2050."

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust project delivery model supported by an extensive technology,  products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our clients’ innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADR”) program, with its ADRs trading over the counter.

For further information: www.ten.com

About Turner Industries

For over 60 years, Turner Industries has provided turnkey industrial services and solutions to the companies that produce fuel, energy, and the materials essential to modern life. Turner offers a “ONE Solution for Your Success” approach for heavy industrial construction, maintenance, turnarounds, pipe and module fabrication, equipment, rigging and specialized transportation, and associated specialty services. For further information: www.turner-industries.com

Important Information for Investors and Securityholders

Forward-Looking Statements

This press release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company’s future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. 

For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2023 Annual Financial Report filed on March 8, 2024, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) which include a discussion of factors that could affect the Company’s future performance and the markets in which the Company operates.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

Contacts

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Phil Lindsay 
VP Investor Relations
Tel: +44 207 585 5051
Email: Phillip Lindsay

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Jason Hyonne
Press Relations & Social Media Manager
Tel: +33 1 47 78 22 89
Email: Jason Hyonne