Samsung Heavy Enlists GTT for LNG Carrier Pair Tank Designs

Why It Matters

The deal signals rising demand for ultra‑large LNG carriers and validates GTT’s membrane technology as the industry standard, reinforcing the strategic importance of LNG transport in the global energy mix.

Key Takeaways

• GTT wins design contract for two 174,000 m³ LNG carriers
• Samsung Heavy Industries will build vessels for a Greek ship‑owner
• Mark III Flex membrane system chosen for cryogenic containment
• First delivery expected between Q1 and Q2 2029

Pulse Analysis

GTT’s latest contract with Samsung Heavy Industries underscores the French engineer’s dominance in LNG containment technology. The company will supply its Mark III Flex membrane system, a next‑generation cryogenic solution that combines flexible steel plates with a high‑performance insulation layer. This design enables carriers to transport up to 174,000 cubic metres of liquefied natural gas while maintaining boil‑off rates below industry averages. By standardising the membrane across both vessels, GTT reduces engineering risk and accelerates certification, reinforcing its position as the preferred supplier for ultra‑large LNG ships.

The order arrives at a time when global demand for ultra‑large LNG carriers (ULLCs) is accelerating. Asian importers, particularly in China, South Korea and Japan, are expanding regasification capacity, while European buyers seek diversified supply amid geopolitical volatility. Vessels of 170,000‑180,000 m³ capacity offer economies of scale, lowering per‑ton transport costs and supporting long‑term contracts that underpin the gas‑to‑power transition through 2030. Shipyards such as Samsung Heavy are capitalising on this trend, leveraging their deep‑water expertise to meet tight delivery windows.

For Samsung Heavy Industries, the contract strengthens its LNG portfolio and provides a steady workflow through the late 2020s. The Greek ship‑owner, likely a member of the growing European fleet, will benefit from modern containment that extends vessel lifespan and improves fuel efficiency. With delivery slated for the first half of 2029, the project aligns with the industry’s push to replace aging tonnage before the next wave of carbon‑reduction regulations. Competitors will need comparable technology or strategic partnerships to stay relevant in the rapidly evolving LNG market.