GTT signs cooperation agreement with Samsung Heavy Industries

GTT has signed a cooperation agreement with Samsung Heavy Industries in order to industrialise its new Mark V technology.

Under the agreement, Samsung Heavy Industries will build a mock up dedicated to final developments and related tests. GTT is also finalizing another cooperation agreement with Hyundai Heavy Industries. GTT believes that these two partnerships will allow the commercialisation of the Mark V technology during 2015.

The Mark V technology, which has received Approvals in Principal (AIPs) from major classification societies, is an optimised version of the Mark III system and its sister Mark III Flex. As of 31 December 2014, 146 LNG carriers were equipped with these two systems.

The Mark V technology is composed of a double insulation with reinforced polyurethane foam. The new system also includes an innovative iron-nickel alloy corrugated secondary membrane and offers significant improvement of the warranted daily boil-off rate.

Philippe Berterottière, Chairman and CEO of GTT, said: "These agreements illustrate the quality of the partnership we have with the shipyards and high trust they give to our technologies. Mark V is the outcome of GTT's continuous innovation dynamics dedicated to the LNG industry. We are very pleased to have reached this important step for its introduction to the market".

Edited from various sources by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/lng-shipping/10042015/gtt-signs-cooperation-agreemen-with-samsung-heavy-industries-576/