Interview: GTT’s boss expects more than 450 LNG carrier orders in next 10 years

French LNG containment giant GTT is expecting that there will be more than 450 orders for large LNG carriers over the next ten years, GTT’s chief Philippe Berterottière told LNG Prime on Thursday.

Earlier this year, Berterottière said that GTT was expecting up to 450 orders for large LNG carriers over the 2023-2032 period due to a strong LNG demand outlook and more stringent environmental regulations, which will force owners to replace older tonnage.

The CEO told LNG Prime at the sidelines of DMG’s 23rd World LNG Summit & Awards currently taking place in Athens the company is now expecting “higher figures” for LNG carrier orders.

Berterottière said that the company now expects more than 450 LNG carrier orders but GTT will give a precise update on the number of vessels in February 2024.

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

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

During the first nine months of this year, GTT booked orders for 52 large LNG carriers, one FLNG, and 15 LNG-powered containerships.

“We are now at about 65 orders for LNG carriers up to date,” Berterottière said.

For the next year, GTT expects a “pretty good year” and not “far away from 70 LNG carriers”, he said.

Regarding LNG as fuel, Berterottière said that “companies are discovering that methanol will not be available any time soon and some companies are switching from methanol to LNG.”

“We expect more orders for LNG as fuel in 2024,” he said, adding that GTT is not just targeting containerships but also VLCCs and Suezmax tankers.

Asked about does he see any real competition for GTT in the LNG tank market in the future, he said “competition is existing, and there are many competitors in the market.”

“We are under constant pressure as other companies are trying to improve their solutions. In a certain way I would like to thank our competitors for that because it keeps us all the time awake, imaginative, and innovative,” he said.

“We will keep on improving our solutions and that is the only right thing to do,” he added.

- Advertisements -

Most Popular

Technip Energies CEO: Eni’s Coral Norte FLNG has ‘potential’ for FID in 2024

Eni's second floating LNG production project in Mozambique has "potential" for a final investment decision in 2024, according to...

Commonwealth LNG pushes back FID to H1 2025

Commonwealth LNG has postponed a final investment decision on its 9.3 mtpa LNG facility in Cameron, Louisiana. According to Commonwealth...

NFE expects to launch Altamira LNG production in March

US LNG firm New Fortress Energy expects to start production of liquefied natural gas at its first FLNG project...

More News Like This

GTT CEO: up to 95 LNG carriers required for projects under construction

The market requires up to 95 additional liquefied natural gas carriers to ship contracted volumes of LNG from plants...

GTT booked orders for 73 LNG carriers in 2023

French LNG containment giant GTT received orders for 73 liquefied natural gas carriers and one FLNG in 2023, while...

CMA CGM takes delivery of first of 10 LNG-powered feeder vessels

French shipping giant CMA CGM has taken delivery of the first ship in a series of 10 new 2,000-teu...

GTT confirms order for eight Q-Max LNG carriers

French LNG containment giant GTT said it had secured a large tank design order for eight new very large...