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GTT'S LICENCE AGREEMENT WITH ZVEZDA PRODUCES FIRST ORDERS

Monday, July 6, 2020 

GTT has received an order from the Russian shipyard Zvezda Shipbuilding Complex (Zvezda) for the tank design of five ARC7 ice-breaking LNG carriers on behalf of a Russian ship-owner.

This represents the first order after GTT signed a Technical Assistance and License Agreement (TALA) with the shipyard allowing Zvezda to construct the membrane technologies developed by GTT.

These ARC7 vessels will be able to navigate in ice-covered waters. They will contribute to the Arctic projects of the Russian LNG producer Novatek.

Each vessel will offer a capacity of 172,600m3. GTT will design the tanks of the vessels, which will be fitted with the Mark III membrane containment system. This is the result of a long-term effort which began more than 10 years ago to adapt GTT technologies to arctic conditions, where LNG carriers are now operating without any difficulty. The delivery of the vessels is planned between the first and last quarters of 2023.

Philippe Berterottière, Chairman and CEO of GTT, said: "We are very pleased to consolidate our partnership with Zvezda through this first order for five ARC7 ice-breaking LNG Carriers.”

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