Reports related to this article:
Project(s): View 7 related projects in PECWeb
Plant(s): View 5 related plants in PECWeb
Released August 28, 2019 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Engineering and construction giant TechnipFMC plc (NYSE:FTI) (Paris, France) announced this week that it will split into two separate publicly traded companies covering different areas and using the placeholder names RemainCo and SpinCo. The larger company, RemainCo, will have approximately 22,000 employees and will be a technology and services provider in the energy sector, including subsea and surface technologies. The other company, SpinCo, will have approximately 15,000 employees and will be a pure-play engineering and construction firm. Specifically mentioned sectors for SpinCo include the liquefied natural gas (LNG) market. The transaction is expected to close in the first half of 2020, subject to regulatory approvals. Industrial Info is tracking projects valued at more than $86 billion involving TechnipFMC.
Click on the image at right for a breakdown by world region of active projects involving TechnipFMC.
Examples of projects currently involving TechnipFMC that would probably transition to SpinCo would be the development of the Monkey Island LNG plant in Cameron Parish, Louisiana. The project, owned by Southern California Telephone & Energy (Temecula, California), is in an early planning phase. The facility initially would contain a single production train with a capacity of 5.25 million metric tons per year as well as three 160,000-cubic-meter LNG storage tanks and a shipping terminal. Additional trains could be built, bringing total site capacity to 15.75 million metric tons per year. For more information, see Industrial Info's project reports on Train 1, Train 2 and Train 3.
In Mexico, TechnipFMC is underway with engineering on Sempra Energy's (NYSE:SRE) (San Diego, California) Costa Azul LNG production and export plant. Sempra recently scaled back the project, opting to construct a single 2.4 million-ton-per-year train at the facility, rather than the initially proposed two. Construction is expected to kick off next summer and be completed in early 2022. For more information, see Industrial Info's project report.
Among TechnipFMC's active projects that would probably remain in the more traditional energy sector of RemainCo is the $2 billion expansion of Exxon Mobil Corporation's (NYSE:XOM) (ExxonMobil) (Irving, Texas) refinery in Beaumont, Texas. The project entails installing a third crude unit with a capacity of 250,000 barrels per day (BBL/d) as well as a kerosene hydrotreater, a diesel hydrotreater and a benzene recovery unit. Construction kicked off earlier this year and is expected to be complete in the first half of 2022. For more information, see Industrial Info's project report.
TechnipFMC also is involved with several energy-related projects outside North America. For example, the company will be performing engineering, procurement and construction for Neste Oyj's (Espoo, Finland) construction of a renewable biodiesel refinery in Singapore, which is in the late engineering stage. The facility will produce 484 million gallons per year of biodiesel. Construction is expected to kick off early next year, for completion in the summer of 2022. The project has an estimated total investment value of $1.58 billion. For more information, see Industrial Info's project report.
In Europe, TechnipFMC is in the final stages of Equinor's (NYSE:EQNR) (Stavanger, Norway) development of the Martin Linge oil and gas field offshore Norway, where TechnipFMC is a contractor on the construction of the jacket and topside facilities. Construction began in 2012 and is expected to wrap up early next year. The project entails constructing a 140.5-meter-tall, 16,500-ton steel jacket and a 25,000-ton topside unit at a depth of 115 meters. The facility will be powered by a 162-kilometer, high-voltage submarine power cable and includes living modules for 95 people. Once in operation, the Marin Linge field is expected to produce 100,000 BBL/d of crude oil and 1.8 million cubic feet per day of natural gas. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Click on the image at right for a breakdown by world region of active projects involving TechnipFMC.Examples of projects currently involving TechnipFMC that would probably transition to SpinCo would be the development of the Monkey Island LNG plant in Cameron Parish, Louisiana. The project, owned by Southern California Telephone & Energy (Temecula, California), is in an early planning phase. The facility initially would contain a single production train with a capacity of 5.25 million metric tons per year as well as three 160,000-cubic-meter LNG storage tanks and a shipping terminal. Additional trains could be built, bringing total site capacity to 15.75 million metric tons per year. For more information, see Industrial Info's project reports on Train 1, Train 2 and Train 3.
In Mexico, TechnipFMC is underway with engineering on Sempra Energy's (NYSE:SRE) (San Diego, California) Costa Azul LNG production and export plant. Sempra recently scaled back the project, opting to construct a single 2.4 million-ton-per-year train at the facility, rather than the initially proposed two. Construction is expected to kick off next summer and be completed in early 2022. For more information, see Industrial Info's project report.
Among TechnipFMC's active projects that would probably remain in the more traditional energy sector of RemainCo is the $2 billion expansion of Exxon Mobil Corporation's (NYSE:XOM) (ExxonMobil) (Irving, Texas) refinery in Beaumont, Texas. The project entails installing a third crude unit with a capacity of 250,000 barrels per day (BBL/d) as well as a kerosene hydrotreater, a diesel hydrotreater and a benzene recovery unit. Construction kicked off earlier this year and is expected to be complete in the first half of 2022. For more information, see Industrial Info's project report.
TechnipFMC also is involved with several energy-related projects outside North America. For example, the company will be performing engineering, procurement and construction for Neste Oyj's (Espoo, Finland) construction of a renewable biodiesel refinery in Singapore, which is in the late engineering stage. The facility will produce 484 million gallons per year of biodiesel. Construction is expected to kick off early next year, for completion in the summer of 2022. The project has an estimated total investment value of $1.58 billion. For more information, see Industrial Info's project report.
In Europe, TechnipFMC is in the final stages of Equinor's (NYSE:EQNR) (Stavanger, Norway) development of the Martin Linge oil and gas field offshore Norway, where TechnipFMC is a contractor on the construction of the jacket and topside facilities. Construction began in 2012 and is expected to wrap up early next year. The project entails constructing a 140.5-meter-tall, 16,500-ton steel jacket and a 25,000-ton topside unit at a depth of 115 meters. The facility will be powered by a 162-kilometer, high-voltage submarine power cable and includes living modules for 95 people. Once in operation, the Marin Linge field is expected to produce 100,000 BBL/d of crude oil and 1.8 million cubic feet per day of natural gas. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
