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GTT to re-evaluate its Mark V system

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Tanks and Terminals,

Gaztransport & Technigaz (GTT) has announced that it has decided to re-validate some aspects of its Mark V system after the discovery of a technical concern.

GTT confirmed that this may result in a delay in its general availability to the market.

The company said that it will use this additional time to seek improvements in the cost of this system, as it recognizes that today's market conditions and LNG prices are not propitious to the general application of the current version of Mark V, considering the incremental cost of the system compared to its other technologies.

Philippe Berterottière, CEO of GTT, said: "We are working with all our customers who have considered using Mark V, both to discuss the timing of the modification to this new system and other containment options, including our recently introduced Mark III Flex technology improved version."

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