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GTT receives orders to equip 42 LNG-powered vessels in 2022

20 Feb 2023

GTT, an engineering firm that specialises membrane containment systems used to transport and store liquefied gases, on Thursday (16 February) announced its results for the 2022 financial year.

GTT said it received orders to equip 42 LNG-powered vessels in 2022. The high price of LNG in Europe is hampering sales momentum in the short term, as confirmed by the absence of orders in the fourth quarter of 2022. 

“Nevertheless, GTT remains convinced of the relevance of its solutions, which enable vessels to comply with new environmental standards, and therefore of the medium- and long-term potential of this business,” it said. 

During 2022, GTT pursued its strategy of developing new digital solutions for ship-owners and signed a number of important contracts highlighting the increasing needs of ship-owners in this area.

In December 2022, Singapore-based GTT subsidiary Ascenz was selected by a major European ferry owner to fit two vessels with its Smart Bunkering solution. This solution enables precise monitoring of the bunkering process in order to avoid any error in quantity of fuel bunkered.

Finally, on January 16, 2023, Ascenz was selected by a major Mexican ship-owner to equip a tanker with its Electronic Fuel Monitoring System (EFMS).

In 2022, GTT obtained numerous approvals in principle from classification societies in a wide range of fields. The main technological advances include:

  • Lloyd’s Register for GTT’s future NEXT1 containment system;
  • Bureau Veritas for Shear-Water, a ballast-free vessel concept for LNG bunkering and refuelling vessels.


Photo credit: GTT
Published: 20 February, 2023

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