GTT Seeks Singapore Maritime Business

Berterottière said the deal is a "landmark" for GTT's Singapore business

Gaztransport & Technigaz (GTT), the French maker of membrane systems for liquefied natural gas (LNG) tanks, is targeting the Singapore market with a new agreement with shipbuilder Keppel Singmarine, the two companies said in a statement.

The technical assistance and license agreement covers the design and construction of LNG carriers using GTT's systems.

"This agreement will enable Keppel Singmarine to propose GTT solutions in the design and construction of LNG carriers and is a major landmark in the long and successful partnership of GTT with Singapore," said GTT Chairman and CEO Philippe Berterottière.

The companies said LNG demand is growing "tremendously" worldwide, and particularly in Southeast Asia, creating greater demand for small to medium scale LNG carriers and bunker ships.

Keppel Singamarine, a division of Keppel Offshore and Marine, builds a variety of vessels, including tugboats, multi-purpose offshore support vessels, and icebreakers.

"We are pleased to enter into this win-win partnership with GTT which will allow us to incorporate GTT's innovative solutions in designing and building of LNG carriers for the LNG market," said Hoe Eng Hock, managing director of Keppel Singmarine.

"With an established track record of delivering some 400 specialised vessels, we understand the need of the market for quality and safe solutions, and we are confident our partnership with GTT will help us meet this market requirement."

GTT filed paperwork for an initial public offering last month, arguing that the potential growth of the LNG market, including LNG bunkering, would make it an attractive investment.