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Technip Energies Q1 2021 Financial Results
April 22, 2021 GMT
Regulatory News:
Technip Energies (Paris:TE) (ISIN:NL0014559478) (the “Company”), a leading Engineering & Technology company for the Energy Transition, today announces its first quarter unaudited 2021 financial results.
Arnaud Pieton, CEO of Technip Energies, on Q1 2021 results and outlook:
“The successful creation of Technip Energies took place on February 16, 2021. For the 15,000 people of our new company, this was a proud moment, which has further energized our workforce to deliver on our ambition – to be the reference investment platform for the Energy Transition.”
China Gas Utilities’ Profit Remains Steady amid Winter Gas Shortage
Gas sales volume growth accelerated for rated Chinese city-gas operators in 4Q20 and 2021 year to date due to a post-pandemic industrial production recovery and strong heating needs amid one of the coldest winters in decades, Fitch Ratings says. This partly offset the pressure on dollar margins, which were probably lower in 2H20 from 1H20, supporting the sector’s steady profitability.
The Chongqing Petroleum and Gas Exchange said the apparent natural gas consumption growth accelerated from 5.9% in October 2020 to a low-teen percentage in November 2020 to January 2021. The spot liquefied natural gas (LNG) price increased by more than 100% in northern China and 60% in southern China since November. The LNG price in Hebei, Jilin, Liaoning, and Shandong provinces rose to more than CNY10,000 per tonne in late December, from an average of CNY2,700 per tonne in June-August 2020.