GTT acquires ‘smart shipping’ specialists Ascenz
PARIS — GTT announced the acquisition of 75% of the share capital of Ascenz from Chia Yoong Hui and Sia Teck Chong, its two executive founders, and from several investment funds. Based in Singapore and specialized in "Smart Shipping," the company employs around forty people and designs operational monitoring and performance optimization systems for vessels. Aimed at ship-owners, Ascenz' solutions enable them to achieve significant fuel savings and ensure vessel compliance with environmental standards.
The shipping industry is increasingly opening up to new uses and services driven by digitalization. In this context, the energy efficiency systems marketed by Ascenz are meeting with growing success among ship-owners.
This transaction reinforces GTT's service portfolio in the area of LNG shipping. Moreover, with the development of LNG as fuel, which addresses the whole merchant fleet, this acquisition will also enlarge GTT's service range, which will prove to be very useful on this market segment.
Completion of the transaction is subject to the satisfaction of conditions precedent, which should take place in the near future. Funded in cash, the transaction will have no significant impact on the Group's financial structure. The two co-founders of Ascenz will retain 25% of the share capital and will continue to manage the company, notably in order to contribute to the implementation of the synergies between the two companies.
At CERAWeek by IHS Markit, held in Houston in March, IEA Director Fatih Birol said that the world would soon see a major second wave of shale gas production from the US in response to higher energy prices and growing demand from India and China.
Mozambique and Tanzania hold an estimated 180 Tft3 and 57 Tft3 of proven natural gas reserves, respectively.
Maximize Profitability with Advanced Analytics at Natural Gas Processing Plants
Incorporating economic data into process modeling is key to optimizing operations and maximizing profits at gas processing plants. However, maintaining optimal operations are often challenging due to changing market dynamics, contract structures and increasing process flexibility. Today, gas processors are leveraging Predictive Control and First Principles models to accurately determine and control the optimal operating targets in real time based on the most current plant conditions and profitability, optimizing recovery of natural gas liquids. Learn how real-time analytics, combined with decision support tools, empower companies to:
•Improve processing margins by up to 5%
•Maximize NGL production through improved availability and optimized process conditions
•Improve compositional control to operate closer to product specifications
May 22, 2018 10am CDT