GTT Announces End of the Test Phase of its New LNG Brick?

With the rise in the use of LNG as a fuel, the marine industry requires new cryogenic storage solutions which are both compact and easy to install. To answer this demand, GTT has developed the LNG Brick® technology and announces the end of its test campaign.

This solution, comprising a Mark III membrane system, is delivered as a block ready to be installed into the ship structure. LNG Brick® provides LNG fuel tanks solutions for capacities ranging between 1 000 and 3 000 m3. It will also permit the construction of the LNG Brick® tank elsewhere than at the shipyard which will integrate it into an LNG-propelled vessel. LNG Brick® will also enable an easier management of boil-off for small volumes thanks to its ability to maintain a higher pressure than traditional membrane tanks.

GTT has entrusted Dongsung FineTec, a Korean company specialising in the production of insulation panels used for GTT's technologies, with the creation of a prototype. The tests, carried out under cryogenic conditions, have demonstrated the satisfactory performance of this new system.

Philippe Berterottière, Chairman and CEO of GTT, declared: "We are pleased to be able to expand our range of membrane containment systems with this reliable, high performance solution. Given the current economic environment and LNG price levels, it seems to us to be an appropriate answer to address many of our customers' concerns".

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.