News

Paris – 10 October 2016. GTT announces that its Houston-based US subsidiary, GTT North America (GTT NA), has signed a license agreement with the American engineering company Matrix PDM Engineering.  The agreement was signed at the Matrix Service Company headquarters in Tulsa, OK, in the presence of John Hewitt – Matrix Service Company CEO, Joe Montalbano – Matrix Service Company COO and Matrix PDM Engineering President; and Aziz Bamik – General Manager, GTT NA.

The license grants Matrix PDM Engineering the right to implement GTT’s patents to construct onshore storage tanks for LNG (liquefied natural gas), LPG (liquefied petroleum gas) and other liquefied gases through affiliated Matrix construction companies. As the first EPC[1] company based in the United States to be licensed by GTT, Matrix PDM Engineering and its affiliates are well positioned to provide GTT’s onshore technology throughout the United States, Canada, Mexico and the Caribbean.

In December 2015, GTT’s membrane technology was approved for inclusion in the 2016 edition of the NFPA[2] 59A: US standard for the production, storage, and handling of LNG. This standard is widely regarded as the reference standard in many regions of the world, especially North America, Latin America, Asia-Pacific, the Middle East and Africa.

“Building on the recent milestone within NFPA 59A, GTT is pleased to partner with Matrix, a first class EPC, to bring a new value proposition to the North American market through the inherent advantages of GTT’s proven membrane technology: reduced CAPEX/OPEX and reduced time to market using local trained operators implementing a standardized and modular technology”, declared Philippe Berterottière, Chairman and Chief Executive Officer of GTT.

“GTT membrane technology adds to our suite of offerings and builds upon our years of experience in the traditional design and construction methods used for LNG and NGL tanks,” said Ken Erdmann, Vice President of Matrix PDM Engineering. “GTT technology has been used for decades on LNG carriers and various land based applications in other countries around the world. Examples of projects that might benefit are LNG facilities, where owner/operators seek faster speed to market or, in some instances, for projects located in areas with higher seismic activity.”

For its part, GTT will supply Matrix technical assistance through its engineering and operations teams. The GST® membrane technology was wholly designed by GTT, is proven with 50 years’ experience adapted from the GTT Mark III technology for marine application, and is suitable for small and large capacity storage alike. Currently 34 onshore storage tanks in service globally use GTT solutions; the first onshore tanks of this kind were constructed in the early 1970s.

Come and see GTT’s GST® technology for yourself at the Matrix booth (Booth No 519) at the HHP Summit in Chicago on October 11th, 12th and 13th 2016. On October 13th GTT North America will also be taking part in the Summit’s “Supply Chain and Technical Considerations for LNG Marine Bunkering” session.

About GTT
GTT (Gaztransport & Technigaz) is the designer of containment systems with cryogenic membranes used to transport and store liquefied gas, and in particular, LNG (Liquefied Natural Gas). For over 50 years, GTT has been designing and offering to its customers technologies which allow them to optimize storage space and reduce the construction and operating costs of ships or tanks equipped with these systems. The liquefied gas market includes several types of vessels: LNG carriers, FSRUs (Floating Storage Regasification Units), FLNGs (Floating Liquefied Natural Gas vessels) and multi-gas carriers (in particular for ethane and LPG). The company also provides solutions dedicated to onshore storage and to the use of LNG as fuel for vessel propulsion (and associated bunkering), as well as a broad range of high added value services for all stakeholders throughout the liquefied gas chain. For more information, visit www.gtt.fr

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.

Houston-based GTT North America (GTT NA) is the US subsidiary of GTT.

Media Relations contacts: press@gtt.fr / +33 (0)1 30 23 42 24 - +33 (0)1 30 23 20 41

Investor Relations contacts: information-financiere@gtt.fr / + 33 (0)1 30 23 42 26 - + 33 (0)1 30 23 20 87

About Matrix Service Company
Founded in 1984, Matrix Service Company is parent to a family of companies that include Matrix Service, Matrix NAC, Matrix PDM Engineering and Matrix Applied Technologies. Our subsidiaries design, build and maintain infrastructure critical to North America’s energy, power and industrial markets. Matrix Service Company is headquartered in Tulsa, Oklahoma with subsidiary offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.

The Company reports its financial results based on four key operating segments: Electrical Infrastructure, Storage Solutions, Oil Gas & Chemical and Industrial.

To learn more about Matrix Service Company, visit matrixservicecompany.com

For more information, please contact Matrix Service Company:

Kevin S. Cavanah
Vice President and CFO
+1-918-838-8822
Email:kcavanah@matrixservicecompany.com