GTT, Conrad Shipyard Team Up on LNG Newbuilds

GTT, world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announced that its US subsidiary, GTT North America, and Conrad Shipyard, a major US shipbuilder, have signed a Technical Assistance and License Agreement (TALA) for the design and construction of LNG barges and LNG-fueled vessel bunker tanks using GTT's membrane containment systems.

Conrad Shipyard received its approval after successfully completing the qualification process including dedicated training of its employees by GTT and the fabrication of a membrane tank model. The partnership between GTT and Conrad Shipyard will enable both companies to leverage each other's expertise and experience in LNG technology and demonstrates the continued commitment of both GTT North America and Conrad Shipyard to the development of the LNG fuel market in the US, including small and mid-scale LNG infrastructure to support development of this nascent market.

"This agreement is a major landmark, not only for GTT and Conrad but also for LNG-as-a-fuel in America. It paves the way for implementing state-of-the-art containment solutions in American built vessels. With Conrad we are going to do great things!" declared Philippe Berterottière, Chairman and CEO of GTT.

"GTT's membrane system is first-in-class internationally," declared Terry Frickey, COO of Conrad Shipyard. "We're proud to bring to our domestic customers the outstanding choice and option this partnership provides. LNG in America is quickly becoming a more viable and realistic fuel thanks to the hard work and diligence of many organizations."