The CEO of GTT Philippe Berterottière on December 12, 2018 in Paris (AFP / -)
GTT, which manufactures tank systems for the transport and storage of liquefied gas (LNG), estimated Thursday that the lifting of the moratorium on new LNG export terminals in the United States was going to create new opportunities for the French group.
“The lifting in the United States of the Moratory on new LNG projects”, signed by President Donald Trump in January, is expected to generate “new needs for Lniers” in 2025 and 2026, said GTT CEO Philippe Berterottière, despite the “global context, very uncertain” than the leader estimated “less favorable to investment decisions”.
Donald Trump’s presidential decree of January 20 raised the moratorium on the authorization of new export terminals pronounced a year earlier by his predecessor Joe Biden, who had mentioned the climate “threat”.
In its liquefied form, the gas takes up much less space (600 times less than in the gas state) and can therefore be stored aboard the coordinated ships to be transported to the other end of the world, then reversified in port factories before being injected into the network to consumers.
This gas is very coveted in Asia as well as in Europe, which had to compensate, since the start of the war in Ukraine in February 2022, the lack of Russian gas, historically transported to the west in terrestrial gas pipelines.
In the first quarter, GTT saw its turnover grow by 32% over a year, to 190.5 million euros, more than what the analysts interviewed by Bloomberg were expecting.
Over this period, nine orders of Lnown and seven large capacity ethaniers were also recorded.
The group confirmed its objectives for the year 2025, namely a consolidated turnover between 750 and 800 million euros and a gross operating surplus (EBITDA) between 490 and 540 million euros.
The year 2024 ranked 2nd of the group’s best years, with a turnover of 641 million euros, 50% more than in 2023.
He had announced in early February 110 posting of posts within his subsidiary Elogen, specializing in the design and manufacture of electrolysers intended for the production of green hydrogen, as part of a job backup plan.
