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GTT and Dongsung Finetec sign MoU for LNG technology

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LNG Industry,

GTT has announced that it has signed a memorandum of understanding (MoU) with Dongsung Finetec to commercialise GTT’s LNG Brick® technology.

Dongsung Finetec is a South Korean company that specialises in thermal insulation. Both parties aim to promote the LNG Brick for LNG as fuel applications. The solution will eventually be constructed by Dongsung Finetec, and will be outfitted on a variety of commercial vessels, including container vessels, bulk carriers, and pure car and truck carriers.

GTT developed the LNG brick technology based on its integrated tank techniques – notably its Mark III technology – to offer a cost-effective and competitive solution to this new market with an LNG fuel tank capacity below 3000 m3. Dongsung Finetec has been closely associated in its industrialisation through the construction of a prototype.

Philippe Berterottière, Chairman and CEO of GTT, said: “It is a great occasion for GTT to contribute to the development of LNG as marine fuel and we are delighted to do it in partnership with Dongsung Finetec with whom we have been collaborating since numerous years on the LNGC market.”

Mr. Ryu, President and CEO of Dongsung Finetec, added: “It is a great leap to materialise LNG Brick for the market of LNG as marine fuel and we are pleased to cooperate with GTT, a French engineering company, on this new opportunity.”

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