Técnicas Reunidas closes in on 2023 contracting target with award of €520m project for QatarEnergy


Renta 4| The company has informed the CNMV that QatarEnergy has awarded it the additional engineering, procurement and construction (EPX) works for the off-plot Liquefied Natural Gas (LNG) facilities of the North Field South project.

The contract is worth $560 million (€520 million), the fourth contract awarded by QatarEnergy to Técnicas Reunidas in the last 24 months.

Assessment: Positive impact on the share price given the amount of the contract, which represents 5.6% of the $9,228 million order book at the end of 1H23. After this contract, the order intake for the year amounts to around €4,000m, approaching the target of €5,000m set for the full year, undoubtedly great news for the company, which is in the midst of a recovery process of its activity and earnings levels.

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