French company Gaztransport & Technigaz (GTT) has opened a Houston office in a bid to promote its investment in the North American LNG market. The firm, which specialises in designing specialist tanks for the transportation of liquefied natural gas (LNG), is hoping to benefit from a cleaner and more energy-efficient fuel source, a statement said.
GTT is placing great emphasis on the use of technology to harness fuel for commercial tankers. To do so, the company plans to design and build smaller LNG carriers and storage tanks.
LNG fuel source
Chairman of GTT North America, Allyn Risley, said “What’s driving our interest is the desire of people to convert both onshore vehicles and marine transportation vessels to be fueled by natural gas and in particular to be fueled by liquefied natural gas.
“Our interest in opening the Houston office is to be in a position to be involved in the development of this market and in the emergence of this market,” he continued.
70% of Market
A Reuters report in June said that GTT controlled approximately 70% of the global market for its technology – high tech alloy membranes that line the hulls of LNG vessels. The report suggested that GTT could be worth as much as $US 2.4 billion.
Edited from various sources by Ted Monroe
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