Gaztransport & Technigaz SWOT and PESTLE Analysis
COMPANY PROFILE -Gaztransport & Technigaz
Business Sector :Liquified Natural Gas (LNG) Logistics
Operating Geography :France, Europe, Global
About Gaztransport & Technigaz :
Gaztransport & Technigaz SA, commonly known as GTT, is a leading engineering company specializing in the design and technology for the maritime transportation and storage of liquefied natural gas (LNG). Founded in 1962 and headquartered in France, GTT has established itself as a key player in the LNG industry, providing innovative solutions for safe and efficient LNG containment and transportation. GTT is renowned for its proprietary membrane containment systems, which are used in a wide range of LNG carriers, floating storage and regasification units (FSRUs), and onshore LNG storage tanks. The company's cutting-edge technology ensures the safe storage and transportation of LNG at cryogenic temperatures, making it a trusted partner for major players in the energy sector. As of December 31, 2022, GTT's order book comprises 274 units for their core business, which involves the maritime transportation and storage of liquefied natural gas (LNG). Additionally, the company has 70 units in their order book specifically for the LNG as fuel business. In 2023, GTT achieved a remarkable feat by securing the first position in the INPI ranking of mid-sized companies for the fourth consecutive year. This ranking was based on the number of patents filed, highlighting GTT's ongoing commitment to innovation and technological advancements in the maritime transportation and storage of liquefied natural gas (LNG). This recognition reinforces GTT's position as a leading player in the industry, continuously striving to develop cutting-edge solutions and strengthen its position as a pioneer in the field. GTT currently has 614 employees working in various roles and capacities within the company.
GTT's unique selling proposition lies in its leadership in designing cutting-edge membrane containment systems for LNG transportation and storage. Driven by innovation and technical excellence, their mission is to deliver energy-efficient solutions and address transformation challenges while prioritizing sustainability. GTT envisions being a key player in the LNG industry, driving economic growth, and supporting environmental breakthroughs for a sustainable world.
Gaztransport & Technigaz Revenue :
€ 307.3 million - FY ending 31st December 2022 (y-o-y growth -2.4%)
€ 314.7 million - FY ending 31st December 2021
Competitive Analysis of Gaztransport & Technigaz
Strengths | Weaknesses |
1. First mover advantage & significant market share in LNG membrane containment system industry. 2. Market leader in France in PEM electrolysers designing & manufacturing. 3. Best-in-class electrolyser efficiency compared to competitors. 4. Its payment model supports high cash generation. 5. Strong intellectual property portfolio, with a total of 2,800 patents. | 1. 85% revenue dependence on South Korean & Chinese markets. 2. Limited number of suppliers, primarily in Asia & South Korea. 3. Limited product portfolio, primarily focused on LNG transportation & storage solutions. 4. High R&D investments impacting business profitability. |
Opportunities | Threats |
1. Expand production capacity for green hydrogen to meet the global demand of 4,000 GW of electrolysers by 2050. 2. Expand its business with growing LNG demand at a CAGR of 2.8 to 3.5% till 2040. | 1. Uncertain LNG purchase contracts & shorter contract lengths hinder investment decisions. 2. Intense competition from large players as well as in LNG as a fuel segment. |
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Detailed SWOT Analysis of Gaztransport & Technigaz
Strength
This section is available only in the 'Complete Report' on purchase.
Weakness
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Opportunity
1. Expand production capacity for green hydrogen to meet the global demand of 4,000 GW of electrolysers by 2050: GTT plans to expand its production capacity for green hydrogen to meet the global demand for electrolysers, which is estimated to reach 4,000 GW by 2050. Currently, the total production capacity is estimated at around 15 GW per year. GTT is investing in research and development to develop a range of products and services related to the production, storage, and transportation of hydrogen, including membrane technology for hydrogen carriers. The company believes that hydrogen will play a significant role in the future of the energy industry and is positioning itself to be a key player in this market. To support this strategy, it plans to leverage its expertise in membrane technology and its strong relationships with key industry players. The company aims to contribute to the development of a green hydrogen ecosystem that is both sustainable and economically viable. By expanding its production capacity for green hydrogen, GTT is positioning itself to capture a share of this growing market and help drive the transition to a more sustainable energy future.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
1. Uncertain LNG purchase contracts & shorter contract lengths hinder investment decisions: The lack of a destination clause in LNG purchase contracts and shorter contract lengths can create uncertainty in the LNG market, which can impact investment decisions. LNG purchase contracts are typically long-term, with durations of up to 25 years, and include a destination clause that specifies the delivery location for the LNG. However, in recent years, buyers have increasingly sought more flexibility in their contracts, including the ability to divert cargoes to different destinations. This has led to the removal or reduction of destination clauses in contracts, which can create uncertainty for sellers, as they may not know the final destination of their LNG cargoes. Additionally, some buyers are now opting for shorter-term contracts, which can make it difficult for sellers to secure financing for new LNG projects. This uncertainty and volatility in the LNG market can create a barrier to investment decisions, which can ultimately impact the growth of companies like GTT.
The remaining section under "Threat" is available only in the 'Complete Report' on purchase.
Major Competitors :
- Hyundai Heavy Industries
- Kawasaki Heavy Industries
- Ishikawajima Harima Heavy Industries
- Moss Maritime
- Kogas
- Samsung Heavy Industries
- Daewoo Shipbuilding and Marine Engineering
- Mitsubishi Heavy Industries
- Hudong-Zhonghua Shipbuilding
- TechnipFMC
- LNT Marine
Major Brands :
- GTT
- Cryovision
- Ascenz
- Marorka
- OSE
- Elogen
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References used in Gaztransport & Technigaz SWOT & PESTLE Analysis Report
1. Biden's Commitment for U.S. LNG to Supply Europe Faces Strong Headwinds: https://www.forbes.com/sites/davidblackmon/2022/03/27/bidens-commitment-for-us-lng-to-supply-europe-faces-strong-headwinds/?sh=63a483247a7e
2. GTT 2022 Universal Registration Document (URD): https://gtt.fr/sites/default/files/GTT_URD_2022_UK_1.pdf
3. Global LNG Outlook 2023-27: https://ieefa.org/resources/global-lng-outlook-2023-27
4. Global Hydrogen Review 2021 - Executive Summary: https://www.iea.org/reports/global-hydrogen-review-2021/executive-summary
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Gaztransport & Technigaz SWOT and PESTLE analysis has been conducted by Sindhu and reviewed by senior analysts from Barakaat Consulting.
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