LNG

French liquefied natural gas storage technology firm and smart-shipping services supplier, Gaztranzport and Technigaz (GTT), has signed two technical services agreements for ships owned by Jovo Group of China.

Gaztransport and Technigaz (GTT), the French LNG storage technology company, reported a slight drop in full-year revenues though the results were strong as orders also reached a record level with demand increasing for new vessels.

French liquefied natural gas storage technology firm Gaztranzport and Technigaz (GTT) has launched a tool for ship-owners, to prepare the voyages of their vessels to reduce overall fuel consumption and to manage boil-off gas in the tanks.

GTT said the new digital “smart shipping” product is called “LNG Optim”.

“For several years, GTT Group has been extending its range of services to support the maritime industry in its digital and energy transformation, with the launch of smart-shipping solutions to optimize the energy performance of ships,” said GTT.

It explained that the “LNG Optim” solution is based on GTT's expertise in studying boil-off gas management.

GTT said “LNG Optim” was developed in collaboration with the group’s subsidiaries, Ascenz, Marorka and OSE Engineering and has already been adopted by major players in the LNG shipping sector.

The firm added that the studies performed to design the product took into account the modelling of complex phenomena such as LNG ageing, the influence of sea states on boil-off gas generation, as well as the impact of active systems like reliquefaction plants and sub-coolers.

“This new technological innovation from GTT, which is the result of joint work between the different teams of the group, marks our ambition in the very promising ‘Smart Shipping’ field,” said Philippe Berterottière, Chairman and Chief Executive.

“Our digital product aims to support ship-owners, charterers and operators in the energy transition, by optimizing the operational and environmental performance of their LNG-fuelled vessels,” added the CEO.

GTT acquired one of its smart-shipping firms, Iceland-based Marorka, in February 2020 to boost its offering to the LNG sector.

GTT bought Marorka from its owners and management team for an undisclosed sum.

The company designs maritime energy monitoring and optimization systems for vessels, allowing them to reduce their environmental footprint.

Its systems were installed on more than 600 vessels when GTT bought the company.

GTT saw Marorka as a good technical, commercial and geographical complement to Ascenz, GTT’s subsidiary based in Singapore. 

Gaztransport and Technigaz (GTT), the French technology firm and designer of liquefied natural gas storage tanks, has acquired another French firm specializing in the assembly of electrolysers for the production of green hydrogen, a future fuel to rival LNG.