News wire — France’s GTT said the execution of certain of its contracts was at risk amid Russia’s invasion of Ukraine, which could impact its production in Russia as well as in Asian shipyards.
“GTT is taking all necessary measures to protect its employees and stakeholders, in compliance with international sanctions,” the group said in a statement.
The naval engineering company, which designs tanks for LNG carriers on Arctic gas projects in northern Russia, said the units being built in Russia represented around 12% of its order book, or around 100 million euros ($111 million), as of the end of last year.
A further 57 million euros worth of orders under progress in Asian shipyards also cover LNG carriers and floating storage units destined specifically for Arctic projects, added GTT.
$1 = 0.9035 euros
- Reuters (Reporting by Sarah Morland Editing by Mark Potter)
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