Wärtsilä and engineering group GTT have agreed to work together on LNG-related ventures.
The two companies signed their cooperation agreement yesterday (5 December) at the Marintec conference in Shanghai.
According to a Wärtsilä statement, the aim of the venture is to “explore potential business opportunities in the marine sector in relation to LNG storage, fuel gas supply systems and associated services”.
Part of Wärtsilä’s diversified business includes LNG fuel gas applications and gas carrier processes, while GTT specialises in cryogenic LNG containment systems for transport and storage.
Potential joint ventures the two companies are eyeing include design and product proposals for onboard LNG fuel gas storage and operations aimed at medium to large segments and configurations where space optimisation is key.
The Wärtsilä statement said the partnership will offer its “ready-made” and “one-stop shopping” systems to shipyards. Ship owners and operators will be targeted with data-based solutions to optimise LNG fuel gas supply systems and cryogenic membrane fuel tanks for LNG.