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News
30-01-2015
NEW ISSUE OF GTT INSIDE: THE GTT QUATERLY NEWSLETTER
GTT Inside

GTT is well known for our membrane containment systems for LNG carriers, which have and continue to be our core activity. In this issue of GTT Inside, you will discover how we reinforce our containment systems and also other important contributions GTT is making to other areas of the overall LNG containment system environment, including an innovative tank sump design for optimization of cargo use and Emergency Departure Procedures.
We are committed to continue improving our technologies in order to meet market expectations. We will also give you an insight into the advanced high-density foams which can be used in GTT systems for specific applications such as offshore units and the transport of other liquefied gases (ethane, butane, etc.).
As we enter 2015, I would like to take this opportunity to wish you all the best for the coming year and hope that GTT will continue to meet and surpass your expectations.

David Colson – Commercial Vice President

In this issue:
TECHNOLOGIES / Mark III High Density (HD) Foam
INNOVATION / Maximizing Operational Volumes
OPERATIONS / The GTT Emergency Departure Procedure

GTT’s Newsletter #3 – January 2015

28-01-2015
GTT receives order from DSME for five ice breaking LNGCs for Yamal Trade
Yamal_LNG

Paris – 28 January  2015. GTT, world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announces an order for five large Arctic Liquefied Natural Gas Carriers (LNGCs).  The five ships for Yamal Trade will be built by the Korean shipbuilder DSME (Daewoo Shipbuilding & Marine Engineering).

These five ARC 7 LNGCs are expected to be delivered between 2017 and 2019 and will be built with the innovative NO96-GW technology, which allows an optimized boil-off rate of LNG cargo.

GTT recorded ten similar orders for ice breaking LNGCs in 2014.

Philippe Berterottière, Chairman and CEO of GTT commented: The harsh Arctic conditions make transporting natural gas a huge challenge. GTT is very proud that membrane containment solutions were chosen for these new generation vessels”.

Media Contact:
press@gtt.fr / +33 130 232 041

Investor Relations Contact:
Information-financiere@gtt.fr / + 33 130 234 226

 

28-01-2015
GTT present at Euromaritime in Paris
Sans titre

Paris – January 28, 2015. GTT, world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), will exhibit at Euromaritime, the European Marine Business Show, from 3 to 5 February 2015 in Paris, Porte de Versailles. As a biennial event, Euromaritime gathers the experts from the entire marine industry during 3 days of meetings and workshops.

The second edition of the exhibition will allow GTT to present its latest technologies and associated services. Its new developments for Small Scale LNG carriers and LNG fuel Tanks demonstrate its commitment to the European shipping market.

GTT invites visitors to come and meet its team on its booth I 52, Hall 6.


Media contact :
press@gtt.fr / +33 130 23 20 41

27-01-2015
Hellman & Friedman successfully sells its remaining holding in GTT’s share capital
IMG-NEWS-FIN

Paris, January 27, 2015 – Gaztransport & Technigaz S.A. (ISIN FR0011726835 Euronext Paris: GTT) (“GTT”), the world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announces that H&F Luxembourg 1 S.à. r.l., an affiliate of Hellman & Friedman, has successfully completed the sale of its remaining holding in the share capital of GTT in a private placement to institutional investors.
Hellman & Friedman acquired its stake in GTT in 2008 and became a shareholder alongside Total S.A. and GDF Suez S.A. In February 2014, GTT completed its successful initial public offering (“IPO”), representing a market capitalization of EUR 1.7 billion.

Philippe Berterottière, CEO of GTT said: “We have been delighted by the participation of Hellman & Friedman in GTT and with their very professional involvement in the impressive evolution that GTT has experienced over recent years.”

Patrick Healy, Managing Director and Deputy CEO of Hellman & Friedman said:
“The sale of our remaining stake in GTT brings a conclusion to H&F’s partnership with GTT starting with our investment in 2008 and the highly successful IPO in February 2014. The excellence of the GTT business and financial profile generated a strong return for all investors without the use of financial leverage.

Our investment could not have succeeded without the superb contribution of Philippe Berterottière, his management team and GTT’s engineers and employees. We are extremely grateful to them and believe that GTT has a strong future under their stewardship.

We are also grateful to Total and GDF Suez for their invaluable partnership over the last 7 years. GTT is an excellent example of a successful, long-lasting corporate partnership that has delivered an outstanding outcome for all stakeholders”

Media Contact:
press@gtt.fr / +33 130 232 041

Investor Relations Contact:
Information-financiere@gtt.fr / + 33 130 234 226

23-01-2015
GTT receives order from DSME for four LNGCs for Maran Gas
DSME

Paris – 23 January 2015. GTT, world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announces an order for four large LNGCs (Liquefied Natural Gas Carriers).  The four ships will be built by the Korean shipbuilder DSME (Daewoo Shipbuilding & Marine Engineering).

These four LNGCs for Maran Gas are expected to be delivered between 2017 and 2019 and will be built with the innovative NO96-GW technology, which allows an optimized boil-off rate of cargo LNG.

Philippe Berterottière, Chairman and CEO of GTT commented: “We are very pleased that these new buildings for Maran Gas integrate GTT membrane technology. This order also reinforces our good relationship with DSME, a long term partner”.


Media Contact:
press@gtt.fr / +33 130 232 041

Investor Relations Contact:
Information-financiere@gtt.fr / + 33 130 234 226

20-01-2015
GTT signs license agreement with Conrad Shipyard for membrane containment systems for LNG barges and bunker tanks
conrad

Paris – 20th January 2015. GTT, world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announced that its US subsidiary, GTT North America, and Conrad Shipyard, a major US shipbuilder, have signed a Technical Assistance and License Agreement (TALA) for the design and construction of LNG barges and LNG-fueled vessel bunker tanks using GTT’s membrane containment systems.

Conrad Shipyard received its approval after successfully completing the qualification process including dedicated training of its employees by GTT and the fabrication of a membrane tank model. The partnership between GTT and Conrad Shipyard will enable both companies to leverage each other’s expertise and experience in LNG technology and demonstrates the continued commitment of both GTT North America and Conrad Shipyard to the development of the LNG fuel market in the US, including small and mid-scale LNG infrastructure to support development of this nascent market.

This agreement is a major landmark, not only for GTT and Conrad but also for LNG-as-a-fuel in America. It paves the way for implementing state-of-the-art containment solutions in American built vessels. With Conrad we are going to do great things!” declared Philippe Berterottière, Chairman and CEO of GTT.

GTT’s membrane system is first-in-class internationally,” declared Terry Frickey, COO of Conrad Shipyard. “We’re proud to bring to our domestic customers the outstanding choice and option this partnership provides. LNG in America is quickly becoming a more viable and realistic fuel thanks to the hard work and diligence of many organizations.”


Media Contact:
press@gtt.fr / +33 130 232 041

Investor Relations Contact:
Information-financiere@gtt.fr / + 33 130 234 226

14-01-2015
GTT receives order from DSME for three LNGCs for Teekay
DSME

Paris – 14 January  2015. GTT, world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announces an order for three large LNGCs (Liquefied Natural Gas Carriers).  The three ships will be built by the Korean shipbuilder DSME (Daewoo Shipbuilding & Marine Engineering).

The LNGCs are expected to be delivered throughout 2018 and will be built with the innovative NO 96 GW technology, which allows an optimized boil-off rate of cargo LNG.

Philippe Berterottière, Chairman and CEO of GTT commented: “DSME and Teekay are two long-term partners. We are delighted to see that these companies have chosen, once again, membrane containment solutions for new buildings”.

Media Contact:
press@gtt.fr / +33 130 232 041

Investor Relations Contact:
Information-financiere@gtt.fr / + 33 130 234 226

 

01-01-2015
Season’s Greetings
voeux2015

GTT teams wish you a very happy new year !

18-12-2014
GST® Membrane technology chosen for Liquid Argon onshore tank construction
cern

Paris –  December 18th, 2014. GTT (Gaztransport & Technigaz) (ISIN FR0011726835 Euronext Paris: GTT), world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) is pleased to announce that the GTT Membrane system has been chosen by the particle physics scientific consortium LBNO-DEMO, including CERN (European Centre for Nuclear Research) and ETH Zurich (Swiss Federal Institute of Technology) to be employed in a small tank to contain liquid Argon in order to qualify it for future large scale implementations.

GTT has been selected for its capacity to provide a customized solution for LBNO-DEMO: a small rectangular liquid argon cryostat with a very high insulation performance. The Membrane tank is also designed for integration of a TPC (Time Projection Chamber).

The scientific consortium intends to study particle physics, particularly neutrinos, which are the fundamental constituents of matter and the forces acting between them. In that scope, the new liquid argon cryostat will serve as an experimental device for validating the feasibility, before implementing it in much larger scale.

Mr Philippe Berterottière, Chairman and CEO of GTT said “Our cooperation with CERN demonstrates the GTT ability to offer Membrane technology for other liquefied gases such as Argon. We are proud to see the use of our technologies serving a major European scientific initiative”.

Prof. Dr. André Rubbia, from ETH Zurich and spokesperson of the scientific consortium, said: ”Detecting neutrinos is a very tricky business: neutrinos rarely interact with other particles of matter and we will eventually need to build very large liquid argon chambers of tens of thousands of cubic meters to truly study and understand them. Today we are extremely excited to lead the tests that will allow certifying the use of the GTT membrane technology for the future projects of the worldwide neutrino physics community”.


About CERN
CERN, the European Organization for Nuclear Research, is the world’s leading laboratory for particle physics. It has its headquarters in Geneva. At present, its Member States are Austria, Belgium, Bulgaria, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Israel, Italy, the Netherlands, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland and the United Kingdom. Romania is a Candidate for Accession. Serbia is an Associate Member in the pre-stage to Membership. India, Japan, the Russian Federation, the United States of America, Turkey, the European Union, JINR and UNESCO have Observer Status.

About ETH Zurich
ETH Zurich is one of the leading international universities for technology and the natural sciences. It is well known for its excellent education, ground-breaking fundamental research and for implementing its results directly into practice. 

About LBNO-DEMO project
The European neutrino community has early on recognized the importance of this science and has been supported by the European Commission to prepare the new experiment with two Framework Programme 7 design studies. The consortium has successfully concluded its design phase, including a detailed engineering study of large liquid Argon TPC detectors in the Pyhäsalmi (Finland) site. The consortium is now active in the construction of a large demonstrator LBNO-DEMO and is developing the plans for an underground pilot project (http://www.cern.ch/wa105).

Press contact
press@gtt.fr / +33 130 234 789

 

09-12-2014
Southeast Asia LNG GTT membrane land storage tanks construction for EWC is progressing well
pagbilao

Paris – December 9th, 2014. GTT (Gaztransport & Technigaz) (ISIN FR0011726835 Euronext Paris: GTT), world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) is pleased to announce that the construction of the two LNG storage tanks ordered by EWC in Southeast Asia is progressing well.

In 2009 and 2011, Energy World Corporation (EWC) and GTT signed two contracts for Land storage tank construction in Indonesia and the Philippines, to be equipped with GTT’s GST® Membrane Full Integrity System. For both projects, GTT supervises the detailed design of the storage tank containment systems, provides technical assistance on site during the containment systems installation and will assist the Operator during the whole tank life.

The first project between EWC and GTT is the Sengkang LNG site development project, in Keera, province of South Sulawesi in Indonesia. So far, the walls of the 88.000m3 tank are completed since this summer and the roof installation will start soon. Installation of containment system is planned for beginning of 2015.

The second project of a 130.000m3 LNG storage tank is being built for LNG Hub Terminal on Pagbilao Grande Island, Quezon Province, in the Philippines. Both projects are progressing in parallel, and, as for Sengkang, the containment system is planned for beginning of next year.

Stewart W. G. Elliott, Chairman, Managing Director and Chief Executive Officer of EWC, explained that it is a significant construction step for the Philippines first LNG receiving terminal and for the Indonesian liquefaction plant.

Philippe Berterottière, President & CEO of GTT stated that these projects are significant first steps on the return of GTT membrane type land storage systems to the World market. These projects both benefit from the inherent cost and schedule advantages of the GTT design.

The building site’s images

 

09-12-2014
Temasek buys stake in GTT
temasek

Paris, December 8, 2014 – GTT (Gaztransport & Technigaz) (ISIN FR0011726835 Euronext Paris: GTT), the world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announced that Temasek will be acquiring a circa 10.4% stake in the share capital of the company.

Total and Temasek entered into a definitive agreement for the acquisition by Temasek of Total’s entire remaining interest in GTT. During GTT’s initial public offering in February 2014, Total had previously reduced its shareholding from 30% to 10.4%. Completion of the transaction is expected in the coming days.

”We are pleased by Temasek’s acquisition of an interest in our capital, as a long-term shareholder. Its geographical roots and its experience in the LNG and marine industries fit perfectly well with the company’s strategy.” declared Philippe Berterottière, Chairman and CEO of GTT. “With Temasek’s support, our aim is to consolidate our world leading position and expertise in the transport of LNG and to pursue our development in innovative and competitive technologies and in the new growing areas of liquefied gases.”

Upon completion of the transaction, the Company’s share capital will be allocated as follows:
– GDF Suez will hold approximately 40.4% of GTT’s share capital;
– Temasek will hold approximately 10.4% of GTT’s share capital;
– Management and employees will hold approximately 0.2% of GTT’s share capital;
– The public free float will represent approximately 49% of GTT’s share capital, among which circa 5% are held by Hellman & Friedman.

About GTT
GTT (Gaztransport & Technigaz) is the world leader in cryogenic membrane containment systems used in the shipbuilding industry for the transport of LNG. For over 50 years, GTT has offered to its customers technologies which allow them to optimize storage space and reduce the construction and operation costs of ships or tanks equipped with these systems. GTT operates in several sectors: LNGCs (Liquefied Natural Gas Carriers) and VLECs (Very Large Ethane Carriers), Multi-gas carriers, FLNGs (Floating Liquefied Natural Gas units), FSRUs (Floating Storage and Regasification units), onshore storage tanks and the use of LNG as a fuel.

About Temasek
Temasek is an investment company based in Singapore. Supported by 11 offices globally, Temasek owns a S$223 billion (US$177 billion) portfolio as at 31 March 2014.
Temasek’s investment themes centre on: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. Its portfolio covers a broad spectrum of industries: financial services; telecommunications, media and technology; transportation and industrials; life sciences, consumer and real estate; as well as energy and resources.
For more information on Temasek, please visit www.temasek.com.sg.

GTT Contact:
Cécile Arson, Chief Financial Officer: +33 1 30 23 42 06

03-12-2014
GTT receives the Euronext Paris 2014 best IPO award in the large capitalization category
IMG-NEWS-FIN-325x250

Paris, December 03, 2014 – GTT (Gaztransport & Technigaz) (ISIN FR0011726835 Euronext Paris: GTT), world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announced it was awarded the prize for the 2014 best IPO in the large capitalization category on Euronext Paris.

Philippe Berterottière, Chairman and CEO of GTT, received the prize of the 2014 best IPO in the large capitalization category at the annual stock market conference organized on December 3, 2014 by Euronext Paris. This prize, awarded by a jury of six independent experts, recognizes the best IPO of the year. GTT was admitted for trading on February 27, 2014, on Euronext Paris, compartment A, and integrated into the SBF 120 index on June 23, 2014.

“The recognition of the excellence in the IPO process is particularly important to us. This prize is a fair reward for the quality of work of GTT staff and notably the team in charge of the project.” Philippe Berterottière declared. “The IPO has given us an extra impetus to consolidate our leadership position and pursue our momentum. With the strong support of our shareholders, we will continue to invest strongly in research and development to offer our clients numerous innovative technologies and grow in new areas of liquefied gazes.”

Contacts:
Lisa Finas, Head of Communication and Investor Relations +33 1 30 23 48 40
Cécile Arson, Chief Financial Officer +33 1 30 23 42 06

02-12-2014
GTT receives an order from Samsung Heavy Industries (SHI) for 3 LNGCs for MBK
IMG-NEWS-FIN-325x250

Paris – December 2nd, 2014. GTT (Gaztransport & Technigaz) (ISIN FR0011726835 Euronext Paris: GTT), world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announced the order for three LNG Carriers (LNGCs) (plus five options) which will be built by the Korean shipbuilder Samsung Heavy Industries (SHI).

These three large LNGCs have been ordered by MBK, a Japanese ship-owner, and will be delivered in 2018. They will be equipped with the Mark III Flex membrane technology which allows an optimized boil off rate.

On this occasion, Philippe Berterottière, Chairman and CEO of GTT declared: “We are very happy to receive this order which confirms the great interest of Japanese ship-owners in our low boil off technologies”.

With 46 orders for vessels received so far since the beginning of the year – a stronger than initially expected order flow, GTT now anticipates 2014 revenue to be close to €227 million and has revised upwards its 2015 revenue outlook, which should reach a level comparable to that of 2014 (i.e. around €10 million more than the revenue outlook announced at the time of the IPO).

GTT will publish its full year 2014 results on February 12, 2015, with its revised short term and mid term outlook after the close of the market.

Contacts :
Lisa Finas, Head of Communication and Investor Relations +33 1 30 23 48 40
Cécile Arson, Chief Financial Officer +33 1 30 23 42 06

24-11-2014
GTT updates market on its new order intake for 2014
IMG-NEWS-FIN-325x250

Paris – November 24, 2014. GTT (Gaztransport & Technigaz) (ISIN FR0011726835 Euronext Paris: GTT), world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) provided the market with an update to its order book.

GTT has received orders for four new LNGCs and one FSRU so far in the fourth quarter. The LNGCs orders are from the same shipyard but for different customers.  They are expected to be delivered starting in 2017, as well as the new FSRU, which will be built by another shipyard.

At September 30, 2014, new orders for the first 9 months stood at 38.  The five new orders received so far in the fourth quarter 2014 bring the count of new orders received this year to 43 including:

  • 33 LNG Carriers (Liquefied Natural Gas Carriers)
  • 6 VLE Carriers (Very Large Ethane Carriers)
  • 3 FSRUs (Floating Storage and Regasification Unit)
  • 1 FLNG (Floating LNG)

GTT will publish its full year 2014 results on February 12, 2015, with its revised short term and mid term outlook after the close of the market.  This revised outlook will take into account the stronger than expected current order flow.

Contacts:
Lisa Finas, Head of Communication and Investor Relations +33 1 30 23 48 40
Cécile Arson, Chief Financial Officer +33 1 30 23 42 06

20-11-2014
GTT receives order from Hyundai Heavy Industries for a FSRU owned by Höegh LNG
HHI Hoegh LNG

Paris – November 20, 2014. GTT (Gaztransport & Technigaz) (ISIN FR0011726835 Euronext Paris: GTT), world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announced the order of a new FSRU (Floating Storage and Regasification Unit) which will be built by the Korean shipbuilding Company Hyundai Heavy Industries (HHI).

The regasification unit is expected to be delivered in 2017 and will be built with the proven Mark III technology. The cargo tanks will be equipped with an optimized containment system configuration to allow all partial filling ability.

This FSRU will be the fifth one in the series at HHI and the seventh one in total owned by the Norwegian Company Höegh LNG, and equipped with GTT membrane.

The order, received in November, highlights the importance of the partnership between HHI and GTT and the Höegh LNG’s trust in membrane technologies.

Commenting on this latest notification, Philippe Berterottière, Chairman and CEO of GTT declared “We are pleased to further strengthen our relations with our Korean partner HHI and with Höegh LNG while noting that our technologies are once more recognized by the LNG industry.”

Press contact
+33 130 234 789 / press@gtt.fr
www.gtt.fr

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