GTT announces the launch of a new phase of development of its Mark V technology

2017-09-26

Paris – September 26, 2017. GTT regularly introduces improved versions of its membrane containment systems in order to respond to the continuous evolution of market requirements.

While remaining fully confident in the potential of the Mark V technology, GTT has decided to re-validate some aspects of the system after the discovery of a technical concern. This may result in a delay in its general availability to the market. GTT also recognizes that today’s market conditions and LNG prices are not propitious to the general application of the current version of Mark V, considering the incremental cost of the system compared to GTT’s other technologies. The company will therefore use this additional time to seek improvements in the cost of this system.

Philippe Berterottière, CEO of GTT, stated: “We are working with all our customers who have considered using Mark V, both to discuss the timing of the modification to this new system and other containment options, including our recently introduced Mark III Flex technology improved version.”

 

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