France's GTT Establishes China Office

France’s Gaztransport and Technigaz (GTT) has inaugurated its maiden office in China.

The company said on Monday that Chinese companies in the transport and industry of LNG attended the ceremony which was held on June 3. Through GTT China, the company expects to move closer to its customers and partners in China, and to better respond to the country's growing LNG needs.

"GTT and Hudong-Zhonghua Shipbuilding's collaboration has been an LNG carrier construction success story in China. GTT wants now to contribute to the development of LNG as a fuel in the country. This is why the company is opening an office in Shanghai", said Philippe Berterottière, Chairman and CEO of GTT.

The market in China for LNG is fast-growing. With extreme focus on environmental pollution, the government is keen on promoting cleaner fuels like natural gas. Proportion of natural gas in country’s energy mix still remains low at close to 6 percent compared with global average of about 25 percent. Companies, both domestic and global, in the natural gas and LNG space see this as an opportunity for growth. 

State owned energy behemoth China National Petroleum Corp (CNPC) expects to boost it natural gas supplies and transportation capacity in the next five years. The company is looking to sell in excess of 750 billion cubic meters (bcm) of gas between now and 2020, a 40 percent jump compared with the previous five years.