GTT clinches new LNG tank job

GTT

GTT received the order during the third quarter of 2024.

Under the order, Samsung Heavy contracted GTT to design tanks for two 174,000-cbm LNG carriers.

These vessels will be fitted with GTT’s Mark III Flex membrane containment system.

Also, the delivery of the vessels is scheduled between the first and second quarters of 2027.

GTT said the yard will build these LNG carriers for an Asian shipowner.

Malaysia’s LNG shipper MISC, a unit of Petronas, recently ordered two LNG carriers at Samsung Heavy.

In parallel, MISC signed a letter of intent with Petronas LNG to charter the two vessels.

MISC said the newbuild LNG carriers will be delivered in 2027, but it did not provide further details regarding the shipbuilding deal with Samsung Heavy.

Samsung Heavy announced in a stock exchange that it had won an order from an Asian owner for two LNG carriers scheduled for delivery by April 2027.

The order is worth 678.3 billion won ($514 million) or about $257 million per vessel.

Prior to this order, GTT secured a contract from Samsung Heavy to design tanks of four 174,000-cbm LNG carriers.

These vessels will also be fitted with GTT’s Mark III Flex membrane containment system.

This order and an order for four LNG carriers at Hanwha Ocean are related to the eight vessels Adnoc Logistics & Services, a unit of UAE’s energy giant Adnoc, ordered at Samsung Heavy and Hanwha Ocean.

Adnoc L&S said on July 1 that each of the shipbuilding deals includes four firm vessels and one optional LNG carrier, for a total of 10 vessels.

The shipbuilding deals are worth $2.5 billion (AED 9.2 billion).

Source: Lngprime.com

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About Stu Turley 4139 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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