CEO: GTT expects up to 450 LNG carrier orders in next 10 years

French LNG containment giant GTT is expecting that there will be up to 450 orders for large LNG carriers over the 2023-2032 period, according to GTT’s chief Philippe Berterottière.

Due to a strong LNG demand outlook and more stringent environmental regulations, which will force owners to replace older tonnage, GTT is estimating that there will be between 400 and 450 orders for large LNG carriers in the next 10 years.

This is the same long-term estimate as the one GTT presented in July last year, despite the fact that in the second part of the year GTT won orders for 80 ships, Berterottière said during the company’s quarterly and 2022 results presentation on Friday.

Record LNG carrier orders

GTT received record 162 orders for LNG carriers and one FSRU in 2022.

The LNG carrier orders rose by 138 percent when compared to the 68 orders in 2021.

As of December 31, 2022, GTT’s order book, excluding LNG as fuel, stood at 274 units.

This includes 256 LNG carriers, 4 ethane carriers, 2 FSUs, 1 FSRU, and 12 onshore storage tanks.

GTT also did not change its long-term order forecasts for FSRUs, FLNGs, VLECs, and onshore and GBS tanks, Berterottière said.

The firm expects up to ten FSRU orders, not including conversions, five FLNG units, between 25 and 40 VLECs, and between 25 and 30 units for onshore and GBS tanks in the next ten years.

FIDs in 2023

Berterottière pointed out during the presentation that there were four final investment decisions for LNG production projects taken in 2022, representing some 28 Mtpa.

The projects include the expansion of Cheniere’s Corpus Christi and the first stage of Venture Global’s Plaquemines, as well as the third floating LNG producer for Petronas and Eni’s Congo FLNG project.

Also, more FIDs are expected in 2023 as there were SPAs for a total of 53 Mtpa signed in 2022, of which 90 percent are from US projects, he said.

The projects that may take FID this year include Sempra’s Port Arthur, second phase of Venture Global’s Plaquemines, NextDecade’s Rio Grande, and Energy Transfer’s Lake Charles.

Most Popular

Monkey Island LNG selects ConocoPhillips’ liquefaction tech

Monkey Island LNG has selected ConocoPhillips’ optimized cascade process liquefaction technology for its planned 26 mtpa liquefaction and export facility in Cameron Parish, Louisiana.

Italy’s Adriatic LNG to resume full ops by mid-September

Italy’s Adriatic LNG import terminal, owned by VTTI and Snam, expects to resume full operations by the middle of this month following the completion of maintenance activities.

Gasgrid says seven Inkoo regas slots booked

Firms have booked seven regasification slots at the Inkoo FSRU-based terminal for 2026 following the completion of the annual allocation procedure, according to Finland’s gas system and LNG terminal operator Gasgrid.

More News Like This

GTT clinches tank gig from Hanwha Ocean

French LNG containment giant GTT has secured a new tank design order from South Korean shipbuilder Hanwha Ocean during the third quarter.

GTT won orders for 10 LNG carriers in H1

French LNG containment giant GTT received orders for ten liquefied natural gas carriers and seven very-large ethane carriers in the first half, while its revenue rose 32 percent compared to the same period last year.

GTT, partners to develop new LNG carrier

French LNG containment giant GTT has signed a joint development project with seven firms to develop a 200,000-cbm LNG carrier.

GTT clinches tank gig for Capital’s LNG-powered containerships

French LNG containment giant GTT has secured a tank design order for six Capital's LNG-fueled container vessels.