COVID-19 effects delay TechnipFMC split

Image courtesy of TechnipFMC

LNG engineer TechnipFMC has put its planned split into TechnipFMC and Technip Energies on hold.

The company said in its update that the market conditions have changed materially due to the COVID-19 pandemic, the sharp decline in commodity prices, and the heightened volatility in global equity markets.

The impacts of these events have created a market environment that is not currently conducive to the company’s planned separation, the statement reads.

The company reiterates that the strategic rationale for the separation remains unchanged. The company is committed to the transaction and continues its preparations to ensure that the two companies are ready for separation when the markets sufficiently recover.

The separation was expected to be completed in the first half of 2020.

Share this article

Follow LNG World News

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >