Gainn ConferenceInnovative & flexible solutions for LNG

fuelled commercial ships

Valencia, 16th March 2016

This document contains information resulting from testing, experience and know-how ofGTT, which are protected under the legal regime of undisclosed information and tradesecret (notably TRIPS Art. 39) and under Copyright law. This document is strictlyconfidential and the exclusive property of GTT. It cannot be copied, used, modified,adapted, disseminated, published or communicated, in whole or in part, by any means,for any purpose, without express prior written authorization of GTT. Any violation of thisclause may give rise to civil or criminal liability - © GTT 2010 - 2015

Disclaimer

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Agenda

GTT Introduction

LNG Bunker Barge

LNG fuelled merchant vessels

2barg membrane design

Mark FIT for LNG fuel tanks

3/14/2016

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GTT Introduction

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GTT in brief

An engineering company with more than 50 years ofexperience in the design of the Membrane Cargo ContainmentSystems

GTT is a public company listed on the Euronext StockExchange (Paris)

A core shareholder, GDF Suez (41%) followed by Temasek aSingaporean Sovereign Fund (10%)

Independent directors guarantee an autonomous governance ofthe company

More than 100 projects(1) (LNGC, VLEC, FSRU, FLNG andGST) currently on order

Around 380 highly qualified people(1) keeping on addressingnew market requirements, such as :

Low BOR systems (particularly for spot) Intermediate filling levels (particularly for offshore)Small scale LNG Carriers (for retail LNG)LNG as a fuel tanks (for bunkering)Multigas vessels

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(1) As of December 31th, 2014

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GTT, leading engineering in the whole LNG chain

Offshore clients:

shipyards

Onshore clients:

EPC contractors

Source: Company data

Exploration & Production Liquefaction Shipping

Off Take / Consumption

Re-Gasification

GTT offers broad exposure across the LNG shipping a nd storage value chain

Onshore storage liquefaction plant

Onshore storage re-gasification terminal

FLNG LNGC FSRU

LNG fuelled ship

Gas-to-wire

Power plant

Platform /Installation

Tank in industrial plant

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Feb

ruar

y 20

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LNGC

Bunker barge

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LNG membrane containment systems

Double hull structure

Cryogenic insulation made of:

• Primary and secondary membranes

• Primary and secondary insulation layers

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Flexible & adaptable design to whole LNG chain

LNG carriers (core business)

o Functionnality: LNG

cargo (big tanks; open

sea)

o High BOR performance

o Any volume can be

managed with a

combination of tanks

>70% and <10%

� Optimised strength

� « Basic membrane »

Offshore applications

o Functionnality:

liquefaction /

regasification & LNG

storage (big tanks; open

sea)

o Any filling tank level to be

managed

� Strengthened systems

� « Reinforced membrane »

Small scale, bunkering &

LNG Fuel:

o Functionnality: cargo,

feeder, bunkering, fuel

(small tanks; river &

coast sea)

o Any filling tank level to

be managed

���� « Basic membrane »

combined with local

strength if needed

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LNG Bunker Barge

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2200 cbm Bunkering Barge

Main parameters:LOA : 64.6 mB: 14.8 mDraft: 2.6 mTonnage: 1,440 GT

Cargo:2.200 m3 (100%)2.066 m3 deliverable volume4.5 hour full transfer timeCapable of accepting return vapor from receiving vessel

Power for Operations:On board diesel generators for simplicity

Builder: Conrad (USA)Single Cargo Tank: GTT Mark III Flex CCSBarge Design: Bristol Harbor Group, Inc.Bunkering arm : GTT REACH 4

AIP Received from ABS 21 March 2014First order in February 2015Keel laying in September 2015Owner: TOTE (for containership)

TOTE LNG fuelled containership

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2200 cbm Bunkering Barge – status – tank closed

Nov. 2015

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De-bugged “prototype”

Innovating simplified solution

Marinization of eqp

First Project in US context

USCG

Experienced Actors joining competencies on a new Barge Concept

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Bunker ship – 10k m 3

Type C vs Membrane NO

2 tanks 2 tanks

Lenght 137.1 113.8

Breadth 19.8 19.8

Draught 6 5.8

Tk Pressure 3.7 barg 700 mbarg

Vnet LNG* 9 000 m3 9 800 m3

LSW 4 160 T 3 460 T

MCR 4 500 kW 4 300 kW

BOG mgt Re-liquefied Re-liquefied

*Net volume = Maximum loading capacity

-20%

=

-3%

+8%

-20 %

-5%

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LNG fuelled merchant vessels

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“LNG Block” building concept

(New built & Retrofit)

Block building Main manufacturing milestones

▶ The block containing the LNG tank is built

by a dedicated shipyard in its premises

▶ The membrane system is installed inside

the tank by the dedicated shipyard

▶ The FGS system is added to the block :

piping / pump tower / vent mast / relief

valves / HP pumps / vaporizers, …..

▶ The block is shipped to the shipyard in

charge of the overall vessel delivery

▶ The block is installed into the overall ship

(at 1st block keel laying stage).

LNG

Fuel gas handling

system

implementation

COMMISSIONING

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Membrane LNG Block Solution

Jumboisation or Cut&Replace of a 40ft section in cylindrical part of the ship2 Membrane Tanks Portside & Starboard FGHS on top of the membrane tanks231 x 40ft containers (462 TEU) available on top of the FGHS

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Building sequences

Sequence for « cut & replace ». (similar for jumboisa tion)

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VLOC: Replacement of Cargo Hold N*8 by a MarkV LNG fuel tank

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LNG tank Section (with FGHS Room and vent mast)

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Tank Section integration by Floating crane

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2barg membrane

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Executive summary

Objectives :2barg increases flexibility during bunkering operations or idle conditions…

…with a marginal structural modification

Schedule:AIP from LR and BV (delivered in Oct.)

AIP from ABS (to be deliver at least in Nov.)

Studies with DNV-GL still under discussion

Next AIP to be issued : NO96 and LFS applications

Commercial topics:Flexibility is a driving parameter for LFS

For LFS: 2barg becomes one possible base case

2 barg is offered both for Mark and NO techno.

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Context and purpose

GTT has developed the design for a LNG bunker ship 4k (AP460)With tank pressure set up at 700 mbarg

An AIP was obtained in September 2014

It is defined as a reference case

To give more operational flexibility, an alternativ e design (AP460B) is studied with the tank pressure set up a t 2 barg

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Bunkership characteristics

LNG bunker ship 4000m 3 LNG (AP460)2 LNG cargo tanks (2x2000 m3)

2 MDO cargo tanks (2x470 m3)

LNG containment system: Mark III Flex

Main particularsLOA: 90m

Beam: 15.7mDraft: 4.7m

Dead weight ~ 2820T

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Ship hull structure study

Comparison between 2 barg and 0.7 barg tank setting pressure (MARS 2000 v.2.6 calculation)

Estimated hull structure weight increase around 10%(+155 T to locally strengthened hull)

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Mark Fit for LNG fuel tanks

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Mark V General description

Corrugated primary membrane

identical to Mark III

Anchoring to the hull with

mastic identical to Mark III

No crossing of

membranes

Corrugated Invar

secondary membrane

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Mark FIT : design philosophy

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Anchoring to the hull

with mastic

No crossing of

membranes

Corrugated Invar

secondary membrane

Corrugated primary

membrane identical to

Mark III

Primary and secondary

continuous Invar plates

(th: 1,5 mm; M93)

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Volumetric efficiency

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7,3 k m3

Type C tank43 %

Optimised type C tank

45 %

Mark Fit for LNG as a fuel tank

89 %

Oblique Mark III Fex tank

63 %

Mark Fit for LNG as a fuel optimizes the space dedicated to

LNG fuel thanks to unmatched volumetric efficiency.

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Value your hold space

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LNG fuel capacity : 14 000 m3

Membrane Mark Fit for LNG

as a fuel

Type B prismatic tank

Type Ccylindrical tank

LNG fuel quantity 14 000 m3 14 000 m³ 14 000 m³

Required Hold space 15 390 m³ 18 140 m³ 26 970 m³

eq. in TEU 404 TEU 477 TEU 709 TEU

Lost TEU ref. - 73 TEU - 305 TEU

Financial lossper year

ref. ~ 540 k$/y ~ 2 280 k$/y

Hypothesis : 1 TEU = 38 m3

Insulation thickness = 480 mm

inspection space = 800 mm

Asia-> EU : 1 000$/TEU

EU -> EU : 500$/TEU

5 round trips per year

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Conclusions

GTT technologies are reliable, cost competitive and under w ell

adaptation to LNG fueled ship application:

2barg membrane (BOG management operations)

Mark FIT technology (volume efficiency)

New industrial execution plan (“LNG tank section package”)

1st bunker barge in US

GTT can bring its expertise during the whole life of the ship

Dedicated solutions can be developed with industrial partn ers support

in line with Client requirements

GTT is committed to bring solutions and value to th e LNG fuel chain

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Thank you for your attention

Victor ALESSANDRINI • valessandrini@gtt.fr