Technip Energies wins $265mln contract for Chevron JV project

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Technip Energies, a leading engineering and technology company for energy transition, said it has been awarded a major contract worth over €250 million ($265 million) by Chevron Phillips Chemical (CPChem) and QatarEnergy for its joint venture project, the Golden Triangle Polymers, along the Gulf Coast in Texas, US.

The scope of work includes supply of proprietary cracking furnaces linked to the 2,000 kilo tonnes per annum (kta) ethane cracker unit for the Golden Triangle Polymers project.

Announcing the contract win, Technip Energies said this latest award was in line with its early engagement strategy with CPChem and QatarEnergy, which resulted in the selection of proprietary ethylene technology and includes the successful completion of the ethylene license and Process Design Package (PDP).

The modularized cracking furnaces will feature seven of the largest capacity furnaces that Technip Energies has ever designed, it stated.

The cracker is designed using modern emissions reduction technology and processes that result in lower greenhouse gas emissions than similar facilities in the US and Europe, it added.

Bhaskar Patel, SVP Sustainable Fuels, Chemicals and Circularity of Technip Energies, said: "We are very pleased that CPChem and QatarEnergy selected our cracker technology and design for this mega-cracker project."

As a world leader in the ethylene industry, Technip Energies has about 50% of the licensing market share. "We have unique experience in the design, construction and modernization of the largest ethylene plants using proprietary technologies," he noted.

"Utilizing our extensive experience with ethylene cracker design and our latest advancements to reduce emissions will contribute to their efforts to help enable a lower carbon future," stated Patel.

"We thank CPChem for its continued confidence in T.EN’s cracking technology, having previously incorporated the technology at other facilities," he added.