Gaztransport & Technigaz SA said it has increased its projection for orders of gas containment system designs for liquefied natural gas carriers to about 550 units covering the 2026-2035 window, an uplift from an earlier estimate of more than 450, according to the companys first-half earnings statement.
GTT Chief Executive Officer Francois Michel linked the upward revision to a wave of investment in liquefaction capacity, with the United States singled out as a principal source of the acceleration. Michel noted that final investment decisions were taken on 84 million tons per year of new LNG capacity in the prior year, followed by a further 37 million tons in the first half of the current year. During the same interval, projects totaling another 29 million tons received a limited notice to proceed.
Shipbuilders in South Korea and China, as well as specialist firms such as GTT, are seeing demand tied to new LNG export terminal projects that stretch from the US to Qatar, the company said, driven by rising gas consumption in Asia. In Europe, demand for LNG is increasing in the context of a move away from pipeline gas delivered from Russia. The company also noted political support for higher US exports to Europe from the US presidency as a factor in market dynamics.
"We have no sign of slowdown in investment in LNG," Michel said in an interview, adding that the investment trend has continued despite the conflict in the Middle East. Michel assumed the role of CEO at the start of the year.
GTT recorded 56 orders for new LNG carriers in the first half of the year, which brought its backlog of such vessels to 272 units. The company said LNG carrier orders represent the majority of its total orders.
Beyond its core containment system designs, GTT plans to announce initiatives to build turnkey tanks for ships that run on LNG as fuel, supplementing its existing design work. The company also intends to roll out digital tools intended to help shipowners and operators plan routes more efficiently while reducing gas boil-off during voyages, Michel said.
Context and implications
The companys revised forecast and order intake reflect a supply chain and shipbuilding market that is responding to newly sanctioned liquefaction projects and continuing demand for flexible LNG transport capacity. Those dynamics are supporting activity across engineering firms, shipyards in Asia, and operators planning fleet expansions or fuel conversions.