GTT faces growing threat from Korean LNG containment systems

GTT, the French LNG containment system maker, is facing a growing threat to its key market from some of its key customers, an analyst has warned.

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“Korean shipyards have been paying $10m, which is 5% of the LNG carrier, to GTT for every LNG carrier…because GTT has the core technology of a membrane LNG containment system,” says Hana Financial Group analyst Moo-hyun Park.