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Technip Energies and Saulsbury Industries Awarded EPC Contract for Carbon Capture & Storage at ExxonMobil LaBarge, Wyoming, US Facility

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PARIS, May 12, 2022--(BUSINESS WIRE)--Regulatory News:

Technip Energies (PARIS:TE), in Consortium with Saulsbury Industries, has been awarded a contract for the Engineering, Procurement and Construction (EPC) to expand the carbon capture and storage (CCS) at ExxonMobil’s LaBarge, Wyoming facility.

The LaBarge plant has already captured more CO2 than any other facility in the world(1). The plant has capacity to capture more than 6 million metric tons per year, and this expansion project will enable the capture of more than one million additional metric tons of CO2 per year.

The expansion will consist of a modification of the existing gas treatment facility to increase the carbon capture capacity and the installation of pipeline to transport the CO2 to the reservoir where it will be stored. Technip Energies will be responsible for the engineering and procurement services, while Saulsbury Industries will perform construction and the pipeline installation.

Laure Mandrou, Senior Vice President Carbon-Free Solutions of Technip Energies, commented: "We are very pleased to be working with ExxonMobil to expand the CCS at LaBarge, the world’s largest carbon capture facility. We are committed to advancing the energy transition and this project will be a hallmark in reducing carbon emissions."

Dan Ammann, President of ExxonMobil Low Carbon Solutions, stated: "The expansion of carbon capture and storage capacity at LaBarge underscores ExxonMobil’s commitment to advancing lower-emissions technologies with projects around the world. Carbon capture and storage is necessary to help meet society’s net-zero goals and, with the right policies in place, the technology can be broadly deployed immediately."

Dennis Chismar, Senior Vice President of Saulsbury Industries, stated: "We are pleased to be collaborating with Technip Energies and supporting this exciting project with ExxonMobil. Our commitment to assisting in the reduction of carbon emissions and being a key contributor to the LaBarge expansion project marks a proud and historic moment for Saulsbury."

(1) Source: ExxonMobil plans to increase carbon capture at LaBarge, Wyoming facility

To know more about Decarbonization: Technip Energies is a provider of consulting, engineering services and technologies for the low-carbon energy market. To learn more about our Decarbonization capabilities, please go to https://www.technipenergies.com.

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (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 extensive technology, products and services offering.

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

Technip Energies is listed on Euronext Paris with American depositary receipts ("ADRs") traded over-the-counter in the United States. For further information: www.technipenergies.com.

About Saulsbury Industries

Saulsbury Industries is a full-service engineering, procurement, fabrication, and construction company that specializes in building the infrastructure necessary to fuel the future. Saulsbury serves its clients in heavy industrial markets by designing and building safe, well executed, capital-efficient projects nationwide. Headquartered in Odessa, Texas, the company’s national office footprint includes Dallas, Houston, Port Arthur, Henderson, Abilene, Pecos, and Corpus Christi, TX; Carlsbad, NM; Tulsa, OK; and Bismarck, ND. For more information, please visit www.saulsbury.com and follow Saulsbury on LinkedIn, Facebook or Twitter.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. 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 Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ 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 Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220511006099/en/

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