Seoul: Korea Inc is finally getting around to developing its own LNG containment system, something that has been discussed for more than a decade.
Korea Gas Corporation (Kogas) will work with the nation’s top three major shipbuilders – Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering – to to design and manufacture liquefied natural gas (LNG) carrier tanks.
Korean yards have been paying France’s GTT enormous licence fees, roughly $8.6m per ship, for using its proprietary membrane containment system for decades.
In the past Korean yards had been linked with buying out GTT, but this year Korean yards are putting greater emphasis than ever before on developing Korean designs and copyrights to protect the nation’s shipbuilding industry.
