Penspen 2024 sale reports highlight large hydrogen contracts

Penspen has announced $120m contract awards from 2024, demonstrating a large focus on European energy transitions.

Global energy consultant, Penspen, reported $120m worth of new contract awards in 2024, with a large stake in hydrogen development.

Continuing its European energy transition growth, 57 European contracts were involved totalling $16m, including hydrogen repurposing, hydrogen blending and terminal fueling operations.

Aligning with European decarbonisation goals, the Trans Atlantic Pipeline (TAP) awarded Penspen a contract to provide hydrogen gap analysis services. This project further supported TAP’s ambitions of hydrogen capacity expansion.

Neale Carter, Executive Vice President for the East Region, highlighted how the company’s work in different regions contributes to the delivery of sustainable energies.

Carter said: “Penspen’s Eastern Hemisphere regional businesses maintained strong commercial and operational focus during the second half of 2024, delivering on our commitment to support our clients develop new energy assets, improve the productivity and efficiency of existing assets, and ensure maximum returns on their investments.

“It is clear that our team’s dedication to providing high-quality engineering support to help our clients’ address their most challenging requirements is not only contributing to the successful growth of our business but is also supporting the delivery of secure and sustainable energy to the communities in which we work internationally.”

Alongisde European expansion, the Middle East and Africa region were recipients of a large stack of the contracts totaling $98m.

The Saudi Arabia region were involved in two renewable energy-focused framework agreements covering FEED agreements for hydrogen production.

Through these deals, it brough Penspen 2024 sales to over $225m.