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Gaztransport & Technigaz (GTT), an engineering company specialised in the design of membrane containment systems for the transportation and storage of liquefied gases, has highlighted its subsea storage solution for LNG bunkering in its financial review of the first six months of 2017.

Dubbed the Gravity Based System (GBS), the bunkering station consists of a concrete chamber and a membrane containment tank designed by GTT.

The GBS, which was presented in April at the Gastech Exhibition & Conference, sits on the seabed and can be installed in a port or isolated area and requires no additional infrastructure. This reduces installation costs while limiting the environmental impact.

As at June 30, GTT's order book stood at 88 units, which included one LNG bunker barge.

During the first half of 2017, GTT posted a net income of EUR 61.2 million compared to EUR 60.5 million the previous year.

Operating profit was EUR 74.6 million, up from EUR 73.7 million. Revenue dipped from last year's figure of EUR 116.9 million to EUR 111.3 million.

As previously reported, GTT also forms part of a joint industry project that is looking to develop an LNG-fuelled boxship with no engine room. The Piston Engine Room Free Efficient Containership (PERFECt) is an electric-driven 20,000-TEU ultra large container vessel (ULCV) with an LNG-fuelled combined cycle gas and steam turbine (COGES) electric power plant.