News | August 17, 2022

Technip Energies, Subsea 7 And Samkang M&T To Perform FEED For Gray Whale 3 Floating Offshore Wind Project In South Korea

PARIS--(BUSINESS WIRE)--

Technip Energies (Paris:TE) (ISIN:NL0014559478), in consortium with Subsea 7 and Samkang M&T has been selected by Corio Generation and TotalEnergies to perform a Front-End Engineering Design (FEED) for their Ulsan Gray Whale 3 Offshore Windfarm project, located offshore the East Coast of South Korea.

The FEED contract covers engineering for floater, mooring, and inter-array cable (IAC) in collaboration with a wind turbine supplier.

The design of the floating foundation will include Technip Energies’ in-house floater technology INO15™. With a capacity of 15 megawatts, INO15™ technology is a three columns semi-submersible floater which is well suited for large series production.

The Gray Whale 3, aiming to develop a 504MW floating offshore wind farm located around 60 to 70 kilometers from Onsan Port in Ulsan, is one of the three offshore wind projects with a total installed capacity of 1.5 gigawatts that Corio Generation and TotalEnergies are promoting off the coast of Ulsan.

Laure Mandrou, SVP Carbon Free Solutions at Technip Energies, commented: “We are glad to have been selected, together with Subsea 7 and Samkang, to perform the FEED of this important offshore wind project. While leveraging our in-house floater technology INO15TM and the complementarity of strong industrial players, we are excited to contribute to build the future of the floating offshore wind in South Korea fostering the global energy transition.”

Philippe Gleize, VP Floating Wind, at Subsea 7 said: “The Gray Whale 3 Offshore Windfarm project represents an exciting opportunity for Subsea 7 and furthers our involvement in the floating wind market in South Korea. We are very pleased to have been selected as a consortium partner and are looking forward to working collaboratively with our clients and all parties involved in maximising the wealth of knowledge, capability and expertise we collectively bring to deliver this FEED project.”

Song Moo-suk, chairman of SAMKANG M&T, commented; "The floating offshore wind project is a breakthrough alternative to solving the limitations of fixed projects and requires cutting-edge technology and construction capabilities. Based on the know-how accumulated through successful offshore wind substructure projects such as Taiwan and the UK, we will secure a firm position as a global leader."

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

About Subsea7

Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs. www.Subsea7.com

About Samkang M&T

SAMKANG M&T is a world-renowned shipbuilding and offshore industry company that leads the production of offshore wind power substructures.

SAMKANG M&T has the world-class technology, production management capability and accumulated construction performance, and can manufacture and supply all types of offshore wind power substructures. Starting with the Taiwan market, it has entered overseas offshore wind power markets and is currently working hard to supply offshore wind infrastructure in Asia, Europe, and the United States.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These

forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005871/en/

Copyright Business Wire 2022