Technip Energies Receives Major Equipment Contract from Chevron Phillips Chemical

Technip Energies (PARIS:TE) has been awarded an Engineering and Procurement contract by Chevron Phillips Chemical (CPChem) to provide a proprietary Low Emission Cracking Furnace for use in an existing olefins unit at their Sweeny, Texas facility. This innovative low-emission design is cost-effective and will cut fuel consumption and CO2 emissions by about 30%.

Technip Energies’ patented Low Emission Cracking Furnace design enhances fuel efficiency through an innovative heat recovery system, which features preheating of combustion air and a pioneering gas-to-gas primary feed effluent exchanger. The project also includes the electrification of a major compressor driver. Additionally, the low-emission furnace's capability to use hydrogen as fuel allows for both immediate and future reductions in the carbon intensity of the existing unit.

Bhaskar Patel, SVP of Sustainable Fuels, Chemicals & Circularity at Technip Energies, stated: "As we advance towards net-zero solutions, we are making significant progress in cutting emissions in ethylene production. The initial and crucial step in reducing carbon emissions involves optimizing process efficiency and design. We are excited that Chevron Phillips Chemical has chosen Technip Energies’ proprietary low-emission cracking furnace for this project at their Sweeny complex."

Venki Chandrashekar, Vice President of Research & Technology at CPChem, remarked: “Our company is dedicated to cost-effective initiatives and projects that significantly reduce the emissions associated with producing essential chemicals. We are excited to collaborate with Technip Energies to deploy the proprietary Low-CO2 Emissions Cracking Furnace and advance our objective of lowering carbon intensity.”

Technip Energies is a leading engineering and technology firm specializing in the energy transition, with strong positions in LNG, hydrogen, and ethylene, and expanding roles in blue and green hydrogen, sustainable chemistry, and CO2 management. The company leverages its robust project delivery model, supported by a comprehensive range of technologies, products, and services.

With operations in 34 countries and a dedicated team of 15,000 employees, Technip Energies is committed to realizing innovative projects for clients and driving progress in the energy transition for a better future.

Technip Energies is listed on Euronext Paris and also offers a Level 1 sponsored American Depositary Receipts (ADR) program, with ADRs trading over the counter.

Chevron Phillips Chemical was founded in July 2000 as a joint venture between Chevron USA Inc. and Phillips 66, merging the chemical operations of both parent companies. Chevron Phillips Chemical aims to become the world's leading chemical company, recognized as the preferred employer, supplier, neighbor, and investment partner. Chevron Phillips Chemical responsibly produces the chemicals and polymers essential to the world, offers rewarding careers, and generates shareholder value. The company is committed to caring for its employees, customers, and communities.