Technip Energies Soars on $10 Billion SpaceX Deal Rumors

French engineering and technology group Technip Energies is reportedly in line for a potential $10 billion contract with SpaceX. The company is bidding to develop a rocket-fuel production facility at SpaceX's projected base in Louisiana, which will be worth over $100 billion. Elon Musk is expected to reveal the winning supplier soon.

The size of the potential payout has sparked interest among investors, as Technip Energies currently holds nearly one-fifth of the world's liquefied natural gas liquefaction capacity and is expanding its assets in Louisiana. The company has offered to revise its under-construction Commonwealth LNG plant with an annual capacity of 9.5 million tons.

However, SpaceX's version would use electrically powered turbines, not natural gas. Reports indicate that the space company wants the fuel facilities built within 36 months, while the wider Louisiana facility is set to begin construction next year with the first Starship launch scheduled for 2029.