Technip Energies Secures Pioneering Contract in Vietnam to Convert Ethane Cracker
Technip Energies has won a contract from Long Son Petrochemicals Co., Ltd. to upgrade the Long Son petrochemical complex in Vietnam. The project involves engineering services, procurement, and the supply of proprietary burners to convert the existing naphtha-fed cracker to ethane feed.
The contract signed with Long Son Petrochemicals includes engineering and procurement services, on-site assistance, and the supply of proprietary burners for the cracking furnaces. The project plans to convert the existing cracker, currently naphtha-fed, to an ethane feed using Technip Energies' proprietary ethylene technologies, including the Ultra Selective Conversion (USC®) furnace design and the Heat-Integrated Rectifier System (HRS®). This upgrade will allow the integration of large quantities of ethane into the current feed mix, which consists of naphtha and propane, aiming to optimize raw material efficiency, achieve cost reductions, significantly reduce carbon intensity, and enhance the long-term resilience of the complex against global market volatility.
Global Significance of the Project
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This project is among the first in the world in recent years to convert a naphtha-fed cracker to operate on ethane. It is part of a trend driven by petrochemical players who favor the diversification of raw materials and the adoption of inputs with lower carbon intensity to strengthen the security of supply chains. Crackers transform naphtha, liquefied petroleum gas (LPG), or ethane into ethylene and propylene, essential molecules for the production of plastics, packaging, textiles, and many consumer goods.
Continued Collaboration
This new project continues a long-standing collaboration between Technip Energies and Long Son Petrochemicals. Technip Energies had previously handled the engineering, procurement, and construction (EPC) of the cracking unit at the complex from 2018 to 2023. This contract was recorded in the first quarter of 2026 in the Technology, Products, and Services segment.
SectorEnergie · Pétrole et gaz›équipements et services pétroliers
Context
Period
Period: 9M 2025
Guidance from the release
Technip Energies (T.EN) a réalisé une performance financière solide sur les neuf premiers mois de 2025.
Chiffre d’affaires +9 % (5 417,1 millions €), EBITDA récurrent +9 % (478,0 millions €), forte génération de trésorerie, acquisition AM&C annoncée, contrat majeur Commonwealth LNG remporté mais conditionné à la FID ; prévisions 2025 confirmées.
Risks mentioned
Dépendance à la décision finale d’investissement (FID) pour l’intégration de certains contrats majeurs (ex. Commonwealth LNG)
Impact des variations de change (effet de change négatif sur carnet de commandes : (797) millions d’euros)
Risques liés à l’autorisation réglementaire et à la finalisation de l’acquisition AM&C
Rééquilibrage du portefeuille projet entraînant une pression sur les marges (plus de projets en phase initiale)
Opportunities identified
Croissance du GNL et solutions modulaires (SnapLNG)
Décarbonation et carburants durables
Renforcement du segment TPS via l’acquisition AM&C (revenus récurrents supplémentaires)
Projets d’économie circulaire et de recyclage chimique (Plas-TCat, Ecoplanta)
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