GTT’s nine-month revenue jumps

French liquefied natural gas containment system specialist, GTT, reported an 8.7 percent rise in revenue for the first nine months of 2019. 

The company said in its report its revenue reached €199.7 million ($222.1 million) for the period under review, which compares to €185.7 million in the corresponding period last year.

The company further noted that the revenue from the second to the third quarter of 2019 rose by over 20 percent.

Commenting on the results, Philippe Berterottière, chairman and CEO of GTT said, “With 40 orders for LNG carriers during the first nine months, of which 14 in the third quarter, business activity has been particularly strong.”

He added that the inflow of orders over the last two years is starting to have a positive effect as revenue has increased substantially from one quarter to the next.

GTT noted that the 40 LNG carriers on order in the first nine months will all be equipped with its Mark III Flex+, Mark III Flex and NO96 GW, with deliveries scheduled between end-2020 and end-2022.

The company’s order book, at the end of September 2019, excluding LNG as fuel, stood at 120 units, including 100 LNG carriers, six ethane carriers, six FSRUs, two FLNGs, and three gravity-based structures for the Arctic LNG 2 project, a first for the company.

The order book also includes three onshore storage tanks, GTT said.

Additionally, the company has also booked a total of 18 orders from the LNG as fuel segment at the end of the period under review.

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