LNG

May 22 (LNGJ) - GTT, the French LNG storage technology company has under its investment fund, GTT Strategic Ventures, participated in a €4 million financing round to support the development of CryoCollect, a French engineering company specialized in gas-handling technologies for gas treatment, liquefaction and separation since being founded in 2017.

   “Investing in CryoCollect aligns with GTT’s commitment to innovation and pioneering smart technologies,” said Philippe Berterottière, Chairman and Chief Executive of GTT. “We are thrilled with this investment, poised to accelerate CryoCollect’s developments in sustainable gas production, thereby expanding the availability of bioLNG and bioCO2,” Berterottière added.

Gaztransport and Technigaz (GTT), the French LNG storage technology company, has increased its annual list of patent applications made to the Patent and Trademark Office in France, l’Institut National de la Propriété Industrielle.

The GTT group said it filed a total of 64 patents in 2023, an increase compared with 2022, thus maintaining its position as a technological leader in the category of intermediate-sized enterprises (ETIs) in France.

With 61 patents filed with the INPI, GTT said it secured the second position in the 2023 INPI ranking of patent-filing ETIs.

GTT also filed three more patents with the European Patent Office (EPO) in 2023.

Broadening technology

The group’s order book has designs for GTT storage and conventional carriers and containment tanks for LNG-powered vessels.

GTT’s earnings come from its technology licensing, hence the importance of the patents pipeline.

“Over the past decade, GTT's technological solutions have played a significant role in reducing greenhouse gas emissions from LNG carriers and optimizing the energy performance of its ship-owner clients,” explained the Paris-based company.

GTT’s core business has been centred around designs for tanks such as the Mark III membrane containment system.

However, GTT said it was now implementing an “ambitious innovation roadmap” in its adjacent markets and in its digital activities, as well as in the field of “zero-carbon” solutions at the subsidiary Elogen.

“With 61 patents filed with INPI and three patents filed with the European Patent Office, 2023 confirms the group's position of excellence in innovation and R&D and underlines GTT's technological stance,” said Philippe Berterottière, Chairman and Chief Executive of GTT.

“I would like to extend my congratulations to Soitec for claiming the top spot in 2023 with 62 patents filed in France, and I am pleased to witness the dynamic technological innovation among French mid-sized companies,” stated Berterottière.

He was referring to France's Soitec SA, a company that is involved in the microelectronics industry, designing and manufacturing innovative semiconductor materials.

It was also previously well known for licensing the patents for organisations such as French Atomic Energy Commission.

Gaztransport and Technigaz (GTT), the French maritime LNG storage technology company, has named Jean-Baptiste Choimet to the position of Chief Executive of GTT as part of a new strategy to adopt more green policy governance.

GTT said that Choimet was scheduled to take up his post on June 12, 2024.

Aged 42, Choimet is a graduate of one of France’s grande école, the Ecole Polytechnique, and is a graduate in Advanced Chemical Engineering Practice from Cambridge University in England.

Jean-Baptiste Choimet joined the GTT group in 2020 and became Managing Director of Elogen, a subsidiary of the Group specializing in design and manufacturing of electrolysers to produce green hydrogen.

Background

Hydrogen energy has gathered substantial support from industry, government and the public to position it as a pivotal future fuel source.

However, its commercial realisation faces significant hurdles, including slow infrastructure growth and the high cost of producing clean hydrogen solely from renewable energy sources like wind and solar.

In his earlier career, Choimet also contributed to the development of the Dunkirk LNG terminal project by French utilty EDF before joining French banking group Société Générale to create the LNG trading desk.

In 2012, he joined French LNG engineering company Technip, where he held commercial functions and worked on major LNG projects in Australia and Russia.

He joined the Bouygues Construction group in 2019 where he oversaw operations for the deployment of telecoms networks.

GTT said that the decision to appoint Choimet to replace Philippe Berterottière, the currently CEO, was taken “unanimously by the Board of GTT and “as the culmination of a rigorous selection process” led by the Appointments and Remuneration Committee, chaired by Catherine Ronge.

“Furthermore, so that GTT can continue to benefit from the experience and commitment of Philippe Berterottière to the success of the group, the Board of will renew the latter in his role as Chairman of the Board for the remaining period of his term of office as director,” GTT explained.

Paris-based GTT stated that these decisions were part of the separation of the functions of Chairman and CEO decided by the GTT Board of Directors on February 17, 2022.

“The new governance of the GTT group will take effect on June 12, 2024,” GTT said.

Catherine Ronge, head of the nominations and committee, said that as part of a demanding process initiated several months ago, the committee had reviewed several high-quality applications.

“The managerial and professional skills, particularly in the key areas of LNG and hydrogen, the personal qualities and achievements of Jean-Baptiste Choimet in the General Management of Elogen were assessed by the Board as particularly in line with GTT's requirements and the group's development strategy,” Ronge declared.

“Jean-Baptiste Choimet's sustained involvement with the Group and its teams will constitute an essential asset to ensure a seamless transition, within the framework of the new governance of the GTT group,” she added.

Strategy

Outgoing CEO Berterottière said he was proud of the ambitious development strategy pursued by the GTT group, both in its core business and in its new markets.

“Faithful to its purpose, GTT has been able to initiate an in-depth transformation to support its clients in facing their future challenges and contribute to building, with them, a sustainable world,” stated Berterottière.

“I am delighted with the appointment of Jean-Baptiste Choimet to accelerate GTT’s progress in this direction,” he added.

“Together, we share the same passion for technology and innovation, as well as a strong attachment to the GTT group, which I will be proud to continue to serve, alongside him, in my role as President,” added Berterottière.

Future CEO Choimet thanked the board for the trust in him it had demonstrated.

“I look forward to working with all the teams of the GTT group and to being supported in this great mission by Philippe Berterottière, with whom I have worked in trust for more than three years,” declared Choimet.

“I approach this new role with enthusiasm at the head of a group which is today a leading global technological player in the maritime and energy world,” he stated.

“I will be keen to mobilize the teams to continue and accelerate the evolution of the GTT group towards the technologies the world will need in the coming decades,” the incoming CEO added.

European Union LNG market report by EU agency for energy regulators says LNG imports may be near peak

The latest European LNG Market Monitoring Report (MMR) has analysed global and European Union market developments and has recommended further actions to improve transparency, competition and flexibility at European LNG terminals.

Gaztransport and Technigaz (GTT), the French LNG storage technology company, has received another order from Dalian Shipbuilding Industry Co. in Northeast China for the tank designs for three LNG carrier newbuilds.

GTT said the latest order was received from its technology partner Dalian Shipbuilding on behalf of Chinese company China Energy.

The Paris-based company added that the tanks chosen for these three vessels, which will each offer a capacity of 175,000 cubic metres, will be the Mark III Flex membrane containment system.

GTT  said that the delivery of the vessels was scheduled for the first half of 2027 and the first quarter of 2028.

The latest order is the second this month from the Dalian yard after a previous order for two ships from Sea Jade Investment, a joint venture comprising Hong Kong-based shipping company Wah Kwong as well as China Gas and China Ship Leasing.

Capacities

Those two vessels will each have capacity of 175,000 cubic metres and will be fitted with the GTT Mark III Flex membrane containment system.

The delivery of the vessels for the Sea Jade consortium is scheduled between the first and the third quarters of 2027.

GTT has also noted in its most recent newsletter just published that the LNG sector had demonstrated more than 60 years of successful and safe operations. 

The French firm said it had contributed to this success though continuous innovation in new solutions, new design proposals and efficient assistance in the construction of well over 2.500 LNG storage tanks.

Modular tanks

GTT is also advancing marketing propositions for its modular LNG storage tanks that can be delivered by ships or barges, for example, to areas isolated from on the ground engineering expertise.

“Amid rising global energy prices and higher demand, new greenfield onshore projects are running into inflationary headwinds and facing significant challenges to deploy cost-effective LNG storage solutions,” said GTT.

“This is particularly true when accessing remote areas where logistics are complex and skilled manpower is difficult to deploy,” the firm added.

“Moreover, as projects become increasingly modularised, slower erection times inherent to stick-built tanks often drive overall project delivery,” GTT said.

Gaztransport and Technigaz (GTT), the French LNG storage technology company, received three approvals from European classification society DNV on its latest development projects in alternative fuels.

Gaztransport and Technigaz (GTT), the French LNG storage technology company, has signed technical services agreements with Eastern Pacific Shipping and its LNG affiliate Cool Company Ltd for a global fleet of 33 vessels, including 24 LNG carriers.

Under the agreement GTT will support Eastern Pacific and CoolCo with the maintenance and operation of their LNG fleet and six Very Large Ethane Carriers and three LNG-fuelled container ships operated by EPS, all equipped with Mark III or No. 96 membrane containment systems technologies developed by GTT.

GTT said it would provide on-site technical assistance for inspection, maintenance, repairs, operations and engineering services.

Eastern Pacific and CoolCo will also benefit from access to the HEARS® emergency hotline, which enables ship-owners and their crews to contact GTT’s experts at any time to respond to operational issues.

“We welcome the signature of this agreement with our key partners EPS and CoolCo, who operate a large and diverse fleet of vessels equipped with GTT technologies,” said Philippe Berterottière, Chairman and Chief Executive of GTT.

Support services

“Our tailor-made support services allow us to guarantee maximum efficiency and safety for the vessels in operation,” added Berterottière.

Richard Tyrrell, CEO of CoolCo, explained that GTT was an important partner of the company.

“We look forward to continuing to work with GTT and to extending our levels of collaboration,” Tyrrell added.

Cyril Ducau, CEO of Eastern Pacific, said his company was pleased to expand its partnership with GTT.

“GTT’s technology will play a key role as EPS rejuvenates its fleet with eco-friendly tonnage,” Ducau stated.

GTT has also been making progress in the design of the next generation of LNG carriers with fewer storage tanks.

The Paris-based company and South Korea’s Samsung Heavy Industries recently received an approval from UK classification society Lloyd’s Register for a new design of GTT’s three-tank concept.

Carrier re-designs

The new design is for a new LNG carrier featuring GTT’s three-tank Mark III Flex membrane containment system, which will also allow for the reduction in the length of vessels.

Analysts noted that about 30 years ago, GTT upgraded LNG carriers from five storage tanks to four tanks and the company now hopes to bring the market forward with a three-tank LNG carrier.

This approval in principle is the result of a joint development project initiated in 2022 and aimed at designing a new generation of LNG vessels.

GTT explained that the three-tank LNG carrier concept permits an increase in LNG cargo capacity and improves maintenance efficiencies through the suppression of one cofferdam, one pump tower and all associated cryogenic equipment.

The company added that the design also improved the ratio between the volume of LNG transported and the surface area of the cryogenic liner.

Gaztransport and Technigaz (GTT), the French LNG storage technology company, and South Korea’s Samsung Heavy Industries have received an approval from UK maritime classification society Lloyd’s Register for a new design of GTT’s three-tank concept.

The new design is for a new LNG carrier featuring GTT’s three-tank Mark III Flex membrane containment system, which will also allow for the reduction in the length of vessels.

This approval in principle is the result of a Joint Development Project initiated in 2022 and aimed at designing a new generation of LNG vessels.

Analysts note that about 30 years ago, GTT upgraded LNG carriers from five storage tanks to four tanks and the company now hopes to bring the market forward with a three-tank LNG carrier.

GTT explained that the three-tank LNG carrier concept permits an increase in LNG cargo capacity and improves maintenance efficiencies through the suppression of one cofferdam, one pump tower and all associated cryogenic equipment.

The Paris-based company added that the design also improved the ratio between the volume of LNG transported and the surface area of the cryogenic liner.

GTT explained that this would make it possible to achieve a boil-off rate as low as 0.080 percent of tank volume per day with the Mark III Flex technology compared with 0.085 percent of the volume per day with the LNG ships currently in operation (of 174,000 cubic metres capacity).

Loading

“In addition, this three-tank LNGC design provides an almost equivalent loading time as a standard four-tank LNGC configuration, thanks to an adapted pump tower,” said the company.

“In addition to these benefits, the removal of a cofferdam, pump tower and its associated equipment reduces the weight of the ship,” it added.

Philippe Berterottière, Chairman and Chief Executive of GTT, said he was proud to be granted this approval from Lloyd’s Register alongside its long-standing ship-building partner SHI.

“We are convinced that this development will benefit all players in the maritime sector by improving the performance of LNG carriers,” stated Berterottière.

Youngkyu Ahn, Vice President of the Shipbuilding Engineering Division of SHI, said the design was expected to increase cargo capacity, minimize operating costs, optimize maintenance efficiency and reduce greenhouse-gas emissions.

“This achievement is a remarkable step in the pursuit of even more innovative vessel designs, and it is with conviction that we pledge to continue to explore and develop innovative designs in the future,” he stated.

Lloyd’s Register said it was focused on innovating to improve efficiency and safety and had reached “another important stage” in its collaboration with SHI and GTT.

“We are pleased to award this AiP, which marks an important step forward for LNG owners, who will now have the opportunity to reduce the length of their vessels and maximise cargo-carrying potential with this optimised design,” declared Young-Doo Kim, a senior executive of Lloyd’s Register in North-East Asia.

French liquefied natural gas storage technology firm Gaztransport and Technigaz (GTT) reported a more than 17 percent increase in first-quarter revenues as the order book continued to build after a record year in 2022 and orders in the first three months for 25 LNG carriers.

Gaztransport and Technigaz (GTT), the French LNG storage technology company for shipping and onshore, said it received its first order from a new partner, the Chinese shipyard China Merchants Heavy Industry in Jiangsu province, for the tank designs for four LNG carriers.

GTT will design the tanks of these four vessels, which will each offer a total cargo capacity of 180,000 cubic metres and would be fitted with the Mark III Flex membrane containment system.

The delivery of the vessels to an as yet unnamed European owner is scheduled between the first quarter of 2026 and the first quarter of 2027.

“We are glad to receive this first order from China Merchants Heavy Industry-Jiangsu for the design of the tanks of four new LNG carriers,” said Philippe Berterottière, Chairman and Chief Executive of GTT.

“With this fifth shipyard, China confirms its growing role in the construction of LNG carriers and opens up new opportunities in a context of strong demand,” stated Berterottière.

China newbuilds

Simple Hu, General Manager of China Merchants Industry Holdings, said the order for large-scale LNG carriers was the first for the Haimen shipyard in Jiangsu

“We are excited to turn our vision into reality, offering state-of-the-art vessels to the growing LNGC market,” he added.

“We highly appreciate the support provided by the GTT Group, whose experience was instrumental in the preparation and development of our solution,” he said.

GTT continues to expand its relationships with Chinese companies and shipyards with technology accords for maritime and onshore LNG tanks storage tanks.

PipeChina Engineering Technology Innovation Co. signed a cooperation agreement on April 6, 2023, for the evaluation and further promotion of GTT’s membrane containment technology for onshore LNG projects in China.

PipeChina Group is currently operating seven LNG receiving terminals in China and three new LNG import projects are under construction.

As the largest operator of LNG infrastructure in China, PipeChina said it was keen to expand its cooperation with GTT.

March 29 (LNGJ) - French maritime and onshore LNG storage technology firm GTT has received an order from the South Korean shipyard of Samsung Heavy Industries for the tank design of a new floating LNG production vessel.

   With a total storage capacity of 200,000 cubic metres the Paris-based company said this vessel would be the first fitted with GTT’s membrane Mark III Flex containment system. It is scheduled for delivery in the first quarter of 2027. GTT said that with this new order there will be five FLNG hulls fitted with GTT tanks.