GTT Secures Order for Three Giant LNG Tanks in China
On Wednesday, GTT received an order from its partner China Chengda Engineering for the design of three 240,000 m³ onshore LNG storage tanks, intended for the Yuedong LNG terminal project in China. These facilities will be the largest in the world equipped with the French engineer's GST technology.
An Order for the Largest LNG Hub in Southern China
The three tanks will be constructed for the PipeChina Group as part of the Yuedong LNG terminal project, located in the city of Jieyang, Guangdong province, described as a strategic hub of the gas network in southern China. With a capacity of 240,000 m³ each, these tanks will surpass all other onshore facilities of this type currently equipped with GST membrane technology. The facilities will feature GST technology, a total integrity membrane containment system developed by GTT. This technological choice is specified by GTT in its press release.
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According to GTT, GST technology allows for a 40% reduction in steel requirements compared to traditional solutions, which helps to reduce emissions across the entire value chain. The optimized insulation also ensures high and consistent energy performance. The three tanks will offer up to 10% additional LNG storage capacity on an equivalent footprint. Beyond LNG storage, the facilities will be capable of storing other liquefied gases such as ethane, propane, ethylene, and ammonia, offering flexibility suited to the future energy and industrial needs of the region.
Delivery Expected in the Fourth Quarter of 2028
GTT plans to deliver the three tanks in the fourth quarter of 2028. François Michel, CEO of GTT, emphasized that this project 'demonstrates the trust our Chinese partners have in us and confirms the high added value of our containment technology'. Xu Gang, President of China Chengda Engineering, stated that this project 'illustrates our joint commitment to providing advanced, safe, and efficient LNG infrastructure solutions'.
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 570,1 millions d'euros
Quarterly revenue: 570,1 millions d'euros
Revenue growth: -4,9 %
Guidance from the release
the Group confirms its objectives for 2026 despite an uncertain geopolitical context
Risks mentioned
Ongoing conflict in the Middle East causing disruptions to energy and maritime transportation markets with uncertainties related to Strait of Hormuz navigation
Lower number of LNG carriers under construction linked to low order intake in first nine months of 2025 impacting revenues
Trend of earlier ship delivery dates reversing with dates realigning to contractual milestones, representing less than 2% of nine months revenue shift
Opportunities identified
Significant number of Final Investment Decisions taken for new liquefaction capacities providing high visibility for several years
Strong order momentum with 80 orders received (71 for LNG carriers) and orderbook of 299 units valued at 1.8 billion euros
GTT Energy's new services offering (LNG Performance Centre) with Cargo Insights module presenting major milestone for digital solutions development
Outlook / guidance
Expected revenue: 760 millions d'euros
Expected EBITDA: 510 millions d'euros
Management commentary: GTT recalls its targets for the 2026 fiscal year, namely: 2026 consolidated revenues between 740 and 780 million euros, Consolidated EBITDA for 2026 between 490 and 530 million euros
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
