Energy Transition: TechnipFMC demerger

Energy Transition: TechnipFMC demerger

The energy transition has led the TechnipFMC group to split into two publicly traded companies: TechnipFMC and Technip Energies. The aim is to best meet the needs of each sector, respectively, the subsea sector and the engineering of large oil and gas complexes. This strategy will enable the group to respond more effectively to the challenges posed by the energy transition.

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The energy transition by splitting

A split postponed because of Covid-19

TechnipFMC’ s energy transition has been delayed by two years. The demerger project was indeed dating back to 2019. But last March, in the midst of the pandemic, it was suspended. The operation seemed impossible due to the fall in oil prices and the extreme volatility of the equity markets.

The group waited until Tuesday, January 16, to finalize its spin-off transaction. The group has the will to create two leading companies in the sector, independent and listed on the stock exchange. They are known as TechnipFMC and Technip Energies.

The split project was able to be resumed in particular thanks to the development of vaccines and the strategy of OPEC and its allies to support oil prices more effectively.

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Assume leadership in several areas

TechnipFMC will be entirely dedicated to the subsea and services sector. Technip Energies will specialize in engineering projects for large oil and gas facilities. For example, the Yamal gas site in Russia.

The purpose of this split is to focus on their respective strategies. And that’s by giving them greater agility and better opportunities for growth. Each is ideally positioned to capitalize on the challenges of energy transition.

Doug Pferdehirt, CEO of TechnipFMC, said:

“We are uniquely positioned to transform the economics of our clients’ projects, helping them add value to their traditional and new energy resources while reducing carbon intensity and supporting their energy transition ambitions.”

TechnipEnergies’ energy transition

One of the strongest performances of the CAC 40

Technip Energies is at the heart of the energy transition. Indeed, it is the leader in liquefied natural gas (LNG), hydrogen and ethylene. But the company also has strong positions in the growth markets of sustainable chemistry and CO2 management.

The leader on compartment A of the regulated market of Euronext in Paris has thus gone public. Its stock symbol is TE. TechnipFMC is one of the strongest performers on the CAC 40.

TechnipFMC shareholders will receive one Technip Energies share for every five TechnipFMC shares held. The group will thus retain a 49.9% stake in Technip Energies.

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Simon Eyers, new member of the TechnipEnergies Board of Directors

TechnipEnergies is targeting revenues of between 6.5 and 7 billion euros in 2021. The company has therefore announced the arrival of a new member to the board of directors: Simon Eyers.

This is a major advantage according to Arnaud Pieton, Managing Director of Technip Energies:

“Simon has a deep understanding of global energy markets and a strong track record of developing new technologies, all key assets that we will build on as we grow our business.”

Indeed, Mr. Eyers was, among other things, CEO of Warburg Pincus International for six years. He has held senior positions in various technology companies and spent 13 years in energy and investment banking at SG Warburg & Co, Goldman Sachs and Credit Suisse First Boston Europe. He is also a founding partner of 4D Global Energy Advisors, a Paris-based private equity firm specializing in the energy sector.

In short, TechnipEnergies’ mission is to design and deliver value-added energy solutions. This is why Arnaud Pieton and the company’s 15,000 professionals are committed to putting their expertise to work. And this, in order to transform the energy sector for a better future.

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