Nippon Steel and Sumitomo renew contract with Equinor to supply pipes
Japan’s largest steelmaker, Nippon Steel and trading house, Sumitomo Corp, announced that they have renewed a long-term contract with Norway’s Equinor to supply seamless steel pipes for a maximum period of 9 years.
The pipes will be used in oil and gas development as well as carbon capture storage (CCS) in Norway and other locations.
Nippon Steel said that over the last 35 years, it has been working with Sumitomo Corporation to supply Equinor with piping products known as oil country tubular goods (OCTG).
OCTG is used for oil and gas development and CCS projects, which contribute to the reduction of greenhouse gas emissions.
It added that the contract renewal acknowledges Nippon Steel and Sumitomo Corporation’s consistent supply of high-performance OCTG, their customer-specific product development, and reliable just-in-time delivery services.
Additionally, the company announced that by ensuring a stable supply of OCTG, Nippon Steel and Sumitomo Corporation will strengthen and expand their long-term partnership with Equinor in the energy sector.
This reliable supply enhances their ability to support Equinor’s operations and projects, fostering deeper collaboration and mutual growth in the industry.
Read more: Nippon Steel’s US Steel acquisition raises decarbonization cost concerns
Apart from its natural gas operations, Equinor is actively involved in projects to reduce carbon emissions. These include CCS, hydrogen and ammonia production, and wind power generation.
The company also added that the contract renewal highlights Equinor’s commitment to transitioning towards more sustainable energy sources and technologies, contributing to Europe’s broader environmental stewardship and climate action goals.
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