Commercial agreement signed for GTT LNG brick
GTT and Dongsung Finetec, a Korean company specialising in thermal insulation, have signed a Memorandum of Understanding to commercialise GTT's LNG Brick technology.
The MoU was signed during the France-Korea Business Leaders' Summit which took place in Paris with Mr Moon Jae-In, President of the Republic of Korea and Mr Bruno Le Maire, French Minister of Economy and Finance, both in attendance.
"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 for numerous years on the LNGC market,” said Philippe Berterottière, Chairman and CEO of GTT.
LNG Brick will eventually be built by Dongsung Finetec and will be outfitted on a large range of commercial vessels such as container vessels, bulk carriers and PCTC.
The LNG brick is a cryogenic storage solution which GTT said is both compact and easy to install.
Comprising of a Mark III membrane system, it is delivered as a block ready to be installed into the ship structure.
GTT said that LNG Brick also enables an easier management of boil-off for small volumes thanks to its ability to maintain a higher pressure than traditional membrane tanks.
The technology seeks to offer a cost effective and competitive solution to vessels with an LNG fuel tank capacity below 3,000 m3.
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