GTT inks settlement deal with French shipyard

France’s Gaztransport & Technigaz (GTT), maker of LNG containment systems has signed a settlement agreement with Chantiers de l’Atlantique.

Chantiers de l’Atlantique, based in Saint-Nazaire, France, is a shipyard owned by shipbuilding group STX Europe.

The settlement agreement ended all lawsuits opposing the two sides since 2006, GTT said in a statement on Wednesday.

Both sides also agreed on the sale by Chantiers de l’Atlantique of a patent portfolio concerning specific LNG membrane containment technologies, GTT added.