GTT and Sembcorp Marine Sign LNG Tank System License Agreement

GTT has signed a Technical Assistance and License Agreement (TALA) with Singapore-based Sembcorp Marine for the design and construction of Sembcorp Marine's Gravifloat, FSRU and mid-scale LNG carrier products, using GTT membrane solutions.

Sembcorp Marine is a leading provider of engineering solutions for the offshore, marine and energy sectors, operating a total of nine shipyards in Singapore, Indonesia, the UK and Brazil.

Sembcorp Marine received its approval after successfully completing a qualification process which started in 2017, including the building of a Mark III mock-up and an audit conducted by GTT. This new partnership allows both companies to target new markets, especially focusing on solutions for LNG terminals, and to advance the development of LNG in the global fuel supply chain.

"We are pleased to count Sembcorp Marine among our new-building partners. We are committed to developing and building together new LNG infrastructures which can be installed worldwide, to provide energy in remote areas," declared Philippe Berterottière, Chairman and CEO of GTT.

As a GTT-licensed yard operator, Sembcorp Marine is building on the success of two of its shipyards in Singapore already approved for the maintenance of LNG carriers equipped with GTT membrane technologies.

"Sembcorp Marine and GTT share the goal of enhancing the worldwide accessibility of clean and affordable LNG fuel," said Mr Wong Weng Sun, President & CEO of Sembcorp Marine. "By combining our respective solutions, we can ensure safer and more reliable LNG delivery, handling and use, and in turn contribute towards more sustainable power generation and consumption. We look forward to an impactful partnership with GTT."

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.

About Sembcorp Marine

Sembcorp Marine provides innovative engineering solutions to the global offshore, marine and energy industries, drawing upon more than 50 years of track record. We focus on four key capabilities, namely, Rigs & Floaters; Repairs & Upgrades; Offshore Platforms; and Specialised Shipbuilding.

Our customers include major oil companies, drilling contractors, shipping companies as well as owners and operators of floating production units.

We own and operate shipyards strategically located in Singapore, Indonesia, the United Kingdom and Brazil.

Discover more at www.sembmarine.com.