GTT receives an Approval in Principle from Bureau Veritas for "Shear-Water", a new concept for a ballast-free LNG bunker & feeder vessel

Paris - May 3rd, 2022. Following thepress release of July 8th, 2021,announcing the Approval in Principle (AIP1) from China Classification Society and DNV, GTT has been awarded a new approval in principle from Bureau Veritas (BV), for the "Shear-Water" concept, a new ballast-free LNG bunker and feeder vessel (LNGB&FV).

The majority of merchant vessels worldwide use ballast water when they are empty or partially loaded in order to maintain seaworthy conditions. Therefore, a considerable quantity of ballast water is carried by ships every day. Even when ballast water is treated, there is a risk of transferring harmful aquatic organisms and pathogens from one area to another. The solution developed by GTT eliminates this risk completely. In addition, removing the ballast water treatment system also reduces the energy consumption and CO2 footprint of the vessels. GTT has been developing an approach to eliminate altogether the requirement for ballast water.

The GTT "Shear-Water" concept is based on the currently proven vessel of 18,700 m3 capacity with two membrane tanks. The design also features a new hull shape, in a "V", which differs from the standard square shaped mid-ship sections traditionally used for LNG carriers.

An exhaustive testing campaign has been carried out at the HSVA Hamburg tank test facility in connection with power-speed, maneuverability and sea keeping. A sloshing test campaign has also been carried out by GTT to ensure the technical feasibility of the project: the excellent results obtained helped approve the concept.

GTT and Bureau Veritas play an active role globally to support safer and cleaner shipping. For many years both companies have been involved in significant developments including innovative LNG bunker and feeder vessel designs, as well as dedicated systems for this specialized and growing market segment.

Philippe Berterottière, Chairman and CEO of GTT, said: "We are proud to have developed "Shear- Water", an innovative ballast-free design for LNG bunker and feeder vessels. This new technological solution allows a reduction in investment and operating costs, simpler operations as well as a reduction in corrosion supporting a longer service life. Obtaining this approval by Bureau Veritas constitutes recognition of the ecological relevance and performance of our technological solution."

Mathieu De Tugny, Vice-president of Bureau Veritas said: "Bureau Veritas has given approval in principle to this new design, which has clear performance and environmental benefits: delimination of the need for ballast water treatment systems and equipment; easier maintenance of the void spaces surrounding the cargo, and reduced propulsion power requirements. Bureau Veritas has monitored and reviewed all the test results performed to support its approval in principle."

Mock-up of the GTT's Shear-Water LNG vessel

About GTT

GTT is a technological expert in containment systems with cryogenic membranes used to transport and store liquefied gases. For over 50 years, GTT has been designing and providing cutting-edge technologies for a better energy performance, which combine operational efficiency and safety, to equip LNG carriers, floating terminals, land storage, and multi-gas carriers. GTT also develops systems dedicated to the use of LNG as fuel, as well as a full range of services, including digital services in the field of Smart Shipping. The Group is also active in hydrogen through its subsidiary Elogen, which designs and assembles electrolysers notably for the production of green hydrogen.

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.

For more information, visitwww.gtt.fr.

Media contact:press@gtt.fr / +33 (0)1 30 23 20 43

Investor Relations contact:information-financiere@gtt.fr/+ 33 (0)1 30 23 20 87

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GTT – Gaztransport & Technigaz SA published this content on 03 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2022 03:11:08 UTC.