GTT, the Paris-based designer of cryogenic membrane containment systems, said it will supply tank plans for a new liquefied natural gas carrier being built by South Korea’s Hanwha Ocean for a North America-based owner. The vessel will be fitted with GTT’s NO96 L03+ membrane system and offer a total cargo capacity of 174,000 cubic meters, equivalent to roughly 78,000 tonnes of LNG at typical density, the company said. Delivery is scheduled for the first quarter of 2028.

The NO96 L03+ system is a further evolution of GTT’s membrane technology, designed to improve thermal performance and reduce boil-off rates during long voyages. “This contract reflects continuing demand for proven containment solutions that lower operating emissions and maximize cargo efficiency,” a GTT spokesperson said in an emailed statement. GTT’s membrane designs are used across a large share of the global LNG fleet; the company’s technology has been installed on roughly 70 percent of newbuild and existing membrane carriers in recent years, industry analysts estimate.

The order comes against a backdrop of sustained growth in U.S. LNG exports. American liquefaction projects that came online in recent years have helped the United States emerge as a pivotal supplier to global markets, prompting private owners and charterers to expand tonnage to serve long-term contracts and spot-market voyages. For shipowners, newbuilds such as this one represent a bet on multi-decade demand for seaborne gas even as market cycles and prices fluctuate.

Hanwha Ocean’s involvement keeps the contract within South Korea’s shipbuilding cluster, which remains dominant in large-vessel construction, particularly for specialized gas carriers. Yards there have secured a steady pipeline of orders as global trade flows and energy diversification create predictable demand. The roughly 2.5-to-3-year lead time to a 2028 delivery is typical for LNG newbuilding slots, reflecting current capacity constraints at major yards and the long planning horizon for owners.

Beyond immediate commercial considerations, the choice of membrane technology has policy and regulatory implications. International Maritime Organization targets and tightening regional emissions standards are prompting shipowners to pursue designs that reduce fuel use and methane slip. Lower boil-off directly reduces fuel consumption or the need to reliquefy vapor, improving carbon intensity metrics for shipment of fossil fuels. That matters to charterers and financiers increasingly demanding clearer decarbonization pathways.

Costs for LNG carrier newbuilds remain substantial, typically running into the low hundreds of millions of dollars depending on specifications, propulsion, and on-board systems; financing and long-term charters often underpin such investments. For the unnamed North American owner, the new vessel is likely part of a strategy to secure stable transport capacity to pair with U.S. export volumes and to respond to contract opportunities in Europe and Asia.

As builders, designers and owners continue to invest in modern LNG tonnage, the sector is signaling confidence in a multi-decade role for liquefied natural gas in global energy portfolios—at least until low-carbon alternatives scale. The GTT-Hanwha Ocean collaboration is a snapshot of that dynamic: technological refinements meeting market demand and regulatory pressure, with a vessel due to enter service in the opening months of 2028.