Technip Energies Secures Vietnam Petrochemical Upgrade Contract

Technip Energies N.V. (TE.PA) has secured a new contract with Long Son Petrochemicals to implement an enhancement project at its Vietnamese facility. The agreement focuses on the modernization of the plant's cracking furnaces through the provision of engineering, procurement, site assistance, and proprietary burner technology. The core of the project involves a strategic transition of the existing steam cracker from naphtha to ethane feedstock. By utilizing Technip Energies' proprietary ethylene technologies, the facility aims to optimize its operational flexibility and improve overall ethylene recovery. This conversion is designed to lower carbon intensity and reduce operational costs while increasing the volume of ethane in the feedstock mix. The project represents a continuation of a long-standing partnership, following the company's delivery of the original cracker unit between 2018 and 2023. From a financial perspective, the contract was recognized within the company's Technology, Products & Services segment during the first quarter of 2026. Market reaction was positive, with Technip Energies shares closing 3.58% higher at $39.94 on the Paris Stock Exchange on Wednesday.