GTT CEO says at least 91 LNG carriers required for projects under construction

The market requires at least 91 additional liquefied natural gas carriers to ship contracted volumes of LNG from plants under construction, according to GTT’s chief Philippe Berterottière.

“Fleet replacement, spot trading and market flexibility may increase that number,” Berterottière said during the company’s quarterly and 2021 results presentation on Friday.

The projects include the sixth Sabine Pass train, Calcasieu Pass, Tangguh Phase 2, Coral FLNG, Tortue FLNG, Pluto Train 2, and others.

Last year, GTT received tank orders for 68 LNG carriers, 2 ethane vessels and 6 onshore storage tanks.

Also, it booked orders to equip 27 LNG-powered vessels in 2021, a volume that outstrips all orders taken by GTT in previous years, Berterottière said.

As of December 31, 2021, GTT’s order book excluding LNG as fuel stood at 161 units. This includes 137 LNG carriers, 6 ethane carriers, 1 FLNG, and 12 onshore storage tanks.

With regard to LNG as fuel, the order book stood at 32 units as of December 31, 2021.

Moreover, the LNG tank giant reported a 20.6 percent drop in revenues to 314.7 million euros ($357.7 million).

“Revenues for 2021 are in line with our expectations,” Berterottière said.

“They are down 21 percent compared to 2020, when revenues were exceptionally high, but up 9 percent compared to 2019. 2021 Ebitda was 172 million euros, slightly above expectations thanks to cost control,” he said.

Most Popular

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

NextDecade, Jera seal 20-year LNG SPA

Japan's Jera has signed a 20-year deal to buy liquefied natural gas from the planned fifth train at NextDecade's Rio Grande LNG facility in Texas.

US weekly LNG exports reach 29 cargoes

US liquefied natural gas (LNG) plants shipped 29 cargoes during the week ending May 28. According to the Energy Information Administration, pipeline deliveries to the LNG terminals remained unchanged compared to the prior week.

More News Like This

Hudong-Zhonghua gets approvals for new three-tank LNG carrier

Chinese shipbuilder Hudong-Zhonghua has received approvals from classification societies for a new three-tank LNG carrier design.

Yangzijiang nears completion of its first LNG carrier

Chinese private shipyard Yangzijiang Shipbuilding is nearing the completion of its first 175,000-cbm liquefied natural gas (LNG) carrier. The shipbuilder aims to resell this and its sister LNG carrier.

GTT to buy Danelec

French LNG containment giant GTT will spend 194 million euros ($219.6 million) to buy Danelec, a Danish provider of digital solutions.

GTT secured orders for nine LNG carriers in Q1

French LNG containment giant GTT received orders for nine liquefied natural gas carriers in the first quarter, while its revenue rose 31.6 percent compared to the same period last year.