Gaztransport & Technigaz
| Company type | Public |
|---|---|
| Industry | Naval engineering, Cryogenic membrane technology |
| Predecessor | Gaztransport SA, Technigaz SA |
| Founded | 1994 |
| Headquarters | Saint-Rémy-lès-Chevreuse , France |
Area served | Worldwide |
| Products | Membrane containment systems for LNG and LPG transportation |
| Owner | ENGIE SA (30.4%) |
| Website | www |
Gaztransport & Technigaz SA is a French-based multinational firm specializing in naval engineering, with its headquarters situated in Saint-Rémy-lès-Chevreuse, France.
Known as the GTT Group, the company focuses on membrane containment technologies for the global transport and storage of liquefied gas. GTT has created and secured patents for numerous innovations within the liquefied gas sector, especially concerning Liquefied Natural Gas (LNG). It remains the exclusive provider of maritime containment tanks designed for LNG transportation.
The company emerged from the 1994 consolidation of Gaztransport SA and Technigaz SA. Subsequently, GTT went public on the Euronext Paris stock market on 27 February 2014.
History
During the 1950s, European enterprises explored methods to deliver Algerian gas from the Sahara Desert to Europe. Initial plans involving a North African pipeline were abandoned due to political instability in the region, leading to increased reliance on shipping gas in cryogenic liquid form via specialized LNG carrier vessels.
After the signing of the Evian Accords in 1962, France acquired its first LNG carrier, named Jules Verne, which operated between Oran and France. At that time, Great Britain already possessed two LNG carriers.
Both Gaztransport and Technigaz trace their origins to advancements made during this period. In 1963, Gazocean—a collaboration between Gaz de France and NYK Line—established Technigaz to advance LNG transport technologies. The following year, Technigaz filed a patent for "wallpanels for so-called membrane tanks," which was granted in 1968, resulting in the Mark I containment system. From 1968 through 1979, twelve LNG carriers were constructed utilizing this technology. Technigaz was acquired by the Amrep Group in 1983; after Amrep's bankruptcy in 1984, it became part of the Bouygues Group. In 1994, Technigaz merged with Gaztransport to create Gaztransport & Technigaz.
Gaztransport originated on 10 January 1966. In 1967, Phillips Petroleum and Marathon Oil, holding contracts for gas imports into Japan, commissioned two LNG carriers—Polar Alaska and Arctic Tokyo—built at Sweden’s Kockums shipyard. These vessels remained operational for 45 years. Between 1969 and 1978, ten LNG carriers incorporated Gaztransport’s NO membrane systems. The merger in 1994 united Gaztransport, Technigaz, and Technigaz Shipping under Gaztransport & Technigaz.
In response to Russia's invasion of Ukraine in 2022, the company maintained services for Russian clients while many competitors withdrew from that market. Nevertheless, by January 2023, Gaztransport & Technigaz halted work on fifteen Arc 7 LNG tankers destined for Russia.
As of , the principal shareholders included:[1]
| Shareholder | Ownership Percentage |
|---|---|
| ENGIE SA | 30.4% |
| Invesco Advisers, Inc. | 2.73% |
| The Vanguard Group | 1.89% |
| BlackRock Fund Advisors | 1.78% |
| Norges Bank Investment Management | 1.68% |
| DNCA Finance SA | 1.63% |
| Ostrum Asset Management SA | 1.52% |
| Artisan Partners LP | 1.49% |
| Amundi Asset Management SA | 1.27% |
| Henderson Global Investors Ltd. | 1.10% |
Subsidiaries
As of the latest records, GTT's principal subsidiaries comprised the following entities:
| Subsidiary | Ownership |
|---|---|
| GTT North America | 100% |
| Cryovision | 100% |
| GTT Training | 100% |
| GTT SEA PTE | 100% |
| Ascenz | 75% |
| Marorka | 100% |
| Ose Engineering | 100% |
| Elogen | 99.78% |
| GTT Russia | 100% |
Technologies
GTT is recognized for its expertise in cryogenic membrane solutions designed for the containment and transport of Liquefied Natural Gas (LNG). These systems maintain LNG at approximately -163 °C, effectively isolating it from the vessel’s hull to reduce evaporation loss.
Originating from the Mark and NO technologies developed by its founders, GTT has enhanced these designs as follows:
- The Mark III system incorporates a primary metallic membrane positioned over prefabricated insulation panels, complemented by a secondary membrane supported by the ship’s internal structure.
- NO96 consists of two identical metallic membranes combined with dual layers of insulation applied directly onto the hull, providing superior containment capabilities.
- NO96 Max offers an optimal balance between reduced boil-off rates and mechanical robustness, improving thermomechanical performance.
Furthermore, GTT has innovated GTT MARS, a dedicated technology tailored for the transportation of Liquefied Petroleum Gas (LPG).
In June 2020, the French National Institute of Industrial Property ranked GTT first among top companies with 58 patent applications filed, highlighting its position as a leader in technological innovation.
Singapore hub
In April 2019, GTT announced the establishment of a "digital hub of excellence" located in Singapore, aimed at enhancing its innovation capabilities and strengthening its footprint within the Asia-Pacific region.
See also
References
- ↑ "Marketscreener". MarketScreener. Retrieved 23 April 2019.