The shareholding structure of Gaztransport changes. GDF becomes its majority shareholder with a 51% stake, alongside Total (39%) and Worms, which retains 10%.
GTT (Gaztransport & Technigaz) is formed out of the merger of the former rival companies and the shipping division of Technigaz. GDF owns 40% of the new company, Total 30% and Bouygues Offshore 30% (which is acquired by Saipem in 2002 and sells its stake to H&F Luxembourg in 2008).
GTT regains exclusive rights to the onshore storage technology developed by Technigaz in the 1960s and licensed to a Bouygues Offshore subsidiary in the mid-1990s.
Although the 2000s see substantial development of LNG carriers and significantly higher volumes of LNG carried, another transformational change accompanies the fast growth of the offshore gas industry. Prelude, the first FLNG (Floating Liquefied Natural Gas) facility, is ordered by Shell. It has twice the capacity of a standard LNG carrier. The second quarter of the year sees the launch of the Mark III Flex technology, which helps to reduce the boil-off rate of LNG during transportation.
Cryovision is formed as the services subsidiary of GTT. NO96 Evolution technology is launched in the same year.
GTT North America is set up in Houston (Texas), and the GTT UK dedicated training facility is opened in the United Kingdom. The 24/7 hotline support service HEARS is launched.
GTT is floated on the Paris stock exchange on February 27. The newly-created UK base becomes a subsidiary company called GTT Training Ltd. The Singapore sovereign fund Temasek becomes an investor by acquiring the residual Total holding of 10.4%. Now listed on Paris Euronext Compartment A , GTT is included in the SBF 120 and MSCI Small Cap indices.
Creation of a new subsidiary company based in Singapore: GTT South East Asia Pte.