Sveza enhancing GTT certification for its SVEZA Gas plywood and anticipating a spike in sales

French cargo containment technology provider GTT granted official approval to use SVEZA Gas in its new cargo containment system NO96 Super+, making Sveza the first Russian company to have the ‘approved supplier’ status for GTT’s five existing LNG cargo containment technologies (NO96, Mark III, NO96 L03 & L03+, GST, and NO96 Super+) and fully meet LNG carrier membrane tank construction requirements. Now, Sveza can supply SVEZA Gas to all shipyards building LNG carriers and storage vessels under all currently available technologies. There are certified shipyards in Russia, China, and South Korea. Together, they set afloat about 75 vessels annually.

NO96 Super+, an evolution of the NO96 technology, reduces LNG cargo loss rates during transportation. The new cargo containment system utilizes insulated panels made of special plywood and special heat insulation materials that ensure the best thermal performance and reduce the heat ingress inside the tank. The reduced gas boil-off rate means significant cost savings for LNG carrier owners.

Sveza has already got an order for SVEZA Gas from a customer in South Korea for a project using the new cargo containment system. The shipment is scheduled for this fall. In the next 2-3 years, Sveza plans to increase SVEZA Gas sales by 80% through strengthening its long-term relations with shipbuilders.

Sveza started making LNG plywood in 2016 and currently maintains a 30% share of the market. In the seven months of 2022, the earnings from this market segment increased by 12% YoY.