GTT – Gaztransport & Technigaz SA

09/18/2018 | Press release | Distributed by Public on 09/18/2018 10:03

GTT signs a Technical Assistance and License agreement with Hyundai Mipo Dockyard

GTT signs a Technical Assistance and License agreement with Hyundai Mipo Dockyard

Paris - September 18th, 2018. GTT has signed a Technical Assistance and License Agreement (TALA) with Ulsan (South Korea) based shipyard Hyundai Mipo Dockyard (HMD). This contract is targeting the outfitting of gas carriers, in particular small and middle scale (up to 50,000 m3) and LNG fuel tanks for merchant ships.

This contract represents a new step forward in the development of GTT technologies in the small-capacity market. It will also allow both partners to further expand their offer to ship owners, in particular in the LNG as fuel field.

Hyundai Mipo obtained its license after having successfully completed a qualification process that began in April, 2018, including the construction of a Mark III Flex mockup and an audit lead by GTT.

Hyundai Mipo thus becomes the third shipyard among the Hyundai group to be licensed by GTT. The two other construction sites, Hyundai Heavy Industries and Hyundai Samho Heavy Industries, have been constructing LNGCs and FSRUs with GTT membrane technologies for numerous years.

Philippe Berterottière, Chairman and CEO of GTT declared: "We are pleased to expand our long-time partnership with Hyundai, group with whom the signature of our first TALA goes back to 27 years." He added: "We have the pleasure to now count HMD, who has just delivered its 1000th ship, among our new partners."

About GTT

GTT (Gaztransport & Technigaz) is an engineering company expert in containment systems with cryogenic membranes used to transport and store liquefied gas, in particular LNG (Liquefied Natural Gas). For over 50 years, GTT has been maintaining reliable relationships with all stakeholders of the gas industry (shipyards, shipowners, gas companies, terminal operators, classification societies). The company designs and provides technologies which combine operational efficiency and safety, to equip LNG carriers, floating terminals, and multi-gas carriers. GTT also develops solutions dedicated to land storage and to the use of LNG as fuel for the vessel propulsion, as well as a full range of services.

GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is notably included in SBF 120 and MSCI Small Cap indices.

For more information, visit www.gtt.fr

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