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.

- Advertisements -

Most Popular

South Korean yards built 500 LNG carriers for export in 30 years

South Korean yards have completed 500 liquefied natural gas (LNG) tankers for export since 1994, according to the Ministry...

Report: Egypt’s EGAS charters Hoegh LNG’s FSRU

The Egyptian Natural Gas Holding Company (EGAS) has chartered Hoegh LNG's floating storage regasification and storage unit, Hoegh Galleon,...

MARAD: Delfin needs to submit amended application for FLNG project

The US Maritime Administration (MARAD) said that Delfin LNG needs to file an amended application for its floating LNG...

More News Like This

GTT names Choimet as new CEO, books orders for 25 LNG carriers in Q1

French LNG containment giant GTT has named the head of its hydrogen unit Elogen, Jean-Baptiste Choimet, as its new...

GTT secures LNG tank gig for eight vessels

French LNG containment giant GTT has secured a tank design order for eight 174,000-cbm LNG carriers. GTT said a statement...

GTT bags LNG tank gig for Nakilat’s vessels

French LNG containment giant GTT has secured a tank design order from HD Korea Shipbuilding & Offshore Engineering (KSOE)...

MOL’s LNG carrier starts trials in China

MOL's 174,000-cbm LNG carrier, Greeenergy Ocean, has started its sea trials in China, according to Hudong-Zhonghua. The LNG carrier (H1880A)...