News

GTT signs a Technical Assistance and License agreement with Hyundai Mipo Dockyard

2018-09-18

Paris – September 18th, 2018. GTT has signed a Technical Assistance and License Agreement (TALA) with Ulsan (South Korea) based shipyard Hyundai Mipo Dockyard (HMD). This contract is targeting the outfitting of gas carriers, in particular small and middle scale (up to 50,000 m3) and LNG fuel tanks for merchant ships.

This contract represents a new step forward in the development of GTT technologies in the small-capacity market. It will also allow both partners to further expand their offer to ship owners, in particular in the LNG as fuel field.

Hyundai Mipo obtained its license after having successfully completed a qualification process that began in April, 2018, including the construction of a Mark III Flex mockup and an audit lead by GTT. Hyundai Mipo thus becomes the third shipyard among the Hyundai group to be licensed by GTT. The two other construction sites, Hyundai Heavy Industries and Hyundai Samho Heavy Industries, have been constructing LNGCs and FSRUs with GTT membrane technologies for numerous years.

Philippe Berterottière, Chairman and CEO of GTT declared: “We are pleased to expand our long-time partnership with Hyundai, group with whom the signature of our first TALA goes back to 27 years." He added: “We have the pleasure to now count HMD, who has just delivered its 1000th ship, among our new partners."

 

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