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Released March 19, 2024 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Oil and gas services company TechnipFMC (NYSE:FTI) (London, England) said it was selected to deliver all-electric infrastructure for carbon capture projects slated for the United Kingdom, dubbed the East Coast Cluster.
"The East Coast Cluster includes an unparalleled and diverse mix of low-carbon projects, including industrial carbon capture, low-carbon hydrogen production, negative emissions power, and power with carbon capture," the government explained. "All these technologies, delivered by companies with unrivalled experience in successfully delivering ambitious and world changing projects, are essential for the U.K. to meet its net-zero targets."
Industrial Info is tracking three East Coast Cluster projects, worth more than US$1.28 billion combined. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for a list of detailed projects.
TechnipFMC will cater to the so-called Northern Endurance Partnership, a joint venture between BP plc (NYSE:BP) (London, England), TotalEnergies SE (NYSE:TTE) (Courbevoie, France) and Norwegian energy company Equinor (NYSE:EQNR) (Stavanger, Norway). The partnership announced its agreements on economic, regulatory and government models for carbon storage and transportation in December.
Technip's contract covers everything from the installation of the subsea system to umbilicals and pipes. The company said the all-electric option simplifies project design by eliminating the need for items such as hydraulic components.
Luana Duffe, an executive vice president for new energy at TechnipFMC, said this would be the first all-electric system for carbon transportation and storage.
"With this award, we are demonstrating how the competencies established in traditional energies are at the very core of the energy transition," she said in a statement.
Equinor sees electrification as a component of the energy transition. Seeing the global economy dependent on oil and gas for the foreseeable future, finding ways to produce it with the lowest carbon footprint possible is necessary, the company said.
Oil and gas production is driven largely by gas-powered turbines, accounting for about a quarter of Norway's total greenhouse gas emissions.
Already for Norway, Equinor is relying on the offshore, floating Hywind Tampen wind farm, which was built specifically to send up to 88 megawatts of clean energy to the Snorre and Gullfaks oil and gas fields in the Norwegian waters of the North Sea.
Last year, Equinor electrified production at the offshore Gina Krog field and has similar visions for several other fields.
The full contract for electrification of carbon initiatives is contingent upon regulator approval and final investment decisions, which TechnipFMC expects will materialize late this year. Contract terms were not disclosed.
TechnipFMC recorded US$7.8 billion in revenue for 2023, a 16.8% improvement over the prior year.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
"The East Coast Cluster includes an unparalleled and diverse mix of low-carbon projects, including industrial carbon capture, low-carbon hydrogen production, negative emissions power, and power with carbon capture," the government explained. "All these technologies, delivered by companies with unrivalled experience in successfully delivering ambitious and world changing projects, are essential for the U.K. to meet its net-zero targets."
Industrial Info is tracking three East Coast Cluster projects, worth more than US$1.28 billion combined. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for a list of detailed projects.
TechnipFMC will cater to the so-called Northern Endurance Partnership, a joint venture between BP plc (NYSE:BP) (London, England), TotalEnergies SE (NYSE:TTE) (Courbevoie, France) and Norwegian energy company Equinor (NYSE:EQNR) (Stavanger, Norway). The partnership announced its agreements on economic, regulatory and government models for carbon storage and transportation in December.
Technip's contract covers everything from the installation of the subsea system to umbilicals and pipes. The company said the all-electric option simplifies project design by eliminating the need for items such as hydraulic components.
Luana Duffe, an executive vice president for new energy at TechnipFMC, said this would be the first all-electric system for carbon transportation and storage.
"With this award, we are demonstrating how the competencies established in traditional energies are at the very core of the energy transition," she said in a statement.
Equinor sees electrification as a component of the energy transition. Seeing the global economy dependent on oil and gas for the foreseeable future, finding ways to produce it with the lowest carbon footprint possible is necessary, the company said.
Oil and gas production is driven largely by gas-powered turbines, accounting for about a quarter of Norway's total greenhouse gas emissions.
Already for Norway, Equinor is relying on the offshore, floating Hywind Tampen wind farm, which was built specifically to send up to 88 megawatts of clean energy to the Snorre and Gullfaks oil and gas fields in the Norwegian waters of the North Sea.
Last year, Equinor electrified production at the offshore Gina Krog field and has similar visions for several other fields.
The full contract for electrification of carbon initiatives is contingent upon regulator approval and final investment decisions, which TechnipFMC expects will materialize late this year. Contract terms were not disclosed.
TechnipFMC recorded US$7.8 billion in revenue for 2023, a 16.8% improvement over the prior year.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
