GTT Under Investigation in S Korea

A hearing is due to take place on October 21 on a South Korean investigation into French LNG technology provider GTT's commercial practices with Korean shipyards, the company said on October 19.

Earlier the Korea Fair Trade Commission issued a confidential examiner report, setting out the preliminary conclusions from its investigation. 

"The examiner report does not prejudge the outcome of the procedure. It opened a new phase, during which GTT and its counsels have responded in writing to its conclusions, in preparation for the hearing. GTT and its counsels will participate in this hearing,"GTT said in a statement. "GTT expects the procedure to come to an end in the next few months. In the meantime, GTT, which is fully co-operating with the Korea Fair Trade Commission, intends to continue the conduct of its business to the benefit of all stakeholders."