GTT Boosts LNG Carrier Demand Forecast Amid US Export Terminal Surge

Gaztransport & Technigaz SA (GTT) has raised its forecast for liquefied natural gas carrier gas containment system design orders to about 550 over the next decade, citing a surge in final investment decisions for new export terminals in the US and other regions.

The company's Chief Executive Officer Francois Michel attributed the upward revision to 'the strong acceleration of investment in liquefaction capacities, notably in the US.' In recent quarters, there have been significant investments in new export terminals, including 84 million tons per year of capacity last year and another 37 million tons this year.

GTT has benefited from these projects along with South Korean and Chinese shipyards, as well as companies like itself. The increased demand for LNG is driven by growing Asian gas consumption, and also bolstered in Europe due to the shift away from Russian pipeline gas.