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Wärtsilä and GTT finalize cooperation agreement to create one-stop availability for LNG fuel tank and supply systems

Tuesday, 05 December 2017

 

The technology group Wärtsilä, and GTT, the designer of cryogenic membrane containment solutions for liquefied gases, have finalized a cooperation agreement at the Marintec conference and exhibition in Shanghai, China on 5 December. The aim of the cooperation is to explore potential business opportunities in the marine sector in relation to LNG storage, fuel gas supply systems, and associated services that will benefit both shipyards and vessel owners.

Both Wärtsilä and GTT have long and successful track records in their respective fields. Wärtsilä has vast experience and in-house expertise in LNG fuel gas applications, as well as gas carrier process know-how, while GTT has extensive capabilities in developing cryogenic membrane containment solutions. By collaborating in the delivery of jointly agreed projects, the two companies will be able to propose solutions that optimise on board LNG fuel gas storage and operations. Within this cooperation agreement, specific attention will be given to medium to large-size segments and configurations where space optimisation is key.

Shipyards will benefit from this collaboration in that they are offered a ready-made solution, meeting new market requirements. The mechanical and process system interfacing between the LNG fuel storage tank and the engines is designed within a single unified system philosophy, resulting in reduced project risk, and procurement cost and time savings through having access to one-stop-shopping.

Wärtsilä and GTT will also provide ship owners and operators with smart marine solutions. These will allow the exchange of onboard system data, thereby enabling remote support optimisation and assistance for the LNG fuel gas supply system. Membrane type LNG fuel tanks guarantee volume optimisation, thus allowing for more fuel space on board the vessel or improved autonomy between bunker operations.

Timo Koponen, Vice President, Flow & Gas Solutions, Wärtsilä Marine Solutions comments: "We are delighted to be partnering with GTT, a company which is known for its high quality products. This cooperation agreement is part of Wärtsilä Gas Solution's strategy of 'forming the future of gas', aimed at making a solid contribution to increased sustainability and greater operational efficiency for gas-fuelled vessels."

Philippe Berterottière, Chairman and CEO of GTT says: "This cooperation between both companies clearly makes great sense. The industry at large has to find means to speed-up the deployment of LNG-as-a-fuel solutions."

Link to image
Caption: The inside of a GTTcryogenic membrane tank.

Media contacts at Wärtsilä:

Mr Frank Harteveld
Director, Gas Solutions, Sales & Marketing
Wärtsilä Marine Solutions
Tel: +31 6 5163 5949
frank.harteveld@wartsila.com

Ms Marit Holmlund-Sund
Senior Manager Marketing, Communications, Marine Solutions
Wärtsilä Corporation
Tel: +358 10 709 1439
marit.holmlund-sund@wartsila.com

Contacts at GTT:

Mr Julien Bec
Vice President - LNG as fuel Division
GTT
Tel: 
+33 130 234 789 
jbec@gtt.fr

Media contact: 

press@gtt.fr
Tel: +33 1 30 23 42 26
Investor Relations contact: 
information-financiere@gtt.fr
Tel: + 33 1 30 23 20 87

Wärtsilä in brief:
Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com

GTT in brief:
GTT (Gaztransport & Technigaz) is an engineering company expert in containment systems with cryogenic membranes used to transport and store liquefied gas, in particular LNG (Liquefied Natural Gas). For over 50 years, GTT has been maintaining reliable relationships with all stakeholders of the gas industry (shipyards, shipowners, gas companies, terminal operators, classification societies). The company designs and provides technologies which combine operational efficiency and safety, to equip LNG carriers, floating terminals, and multi-gas carriers. GTT also develops solutions dedicated to land storage and to the use of LNG as fuel for the vessel propulsion, as well as a full range of services.
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.
www.gtt.fr.

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Last Updated ( Tuesday, 05 December 2017 )