Nippon Steel, Sumitomo renew long-term contract with Equinor to supply pipes
TOKYO, July 3 (Reuters) -Japan's largest steelmaker, Nippon Steel 5401.T, and trading house Sumitomo Corp 8053.T said on Wednesday that they have renewed a long-term contract with Norway's Equinor EQNR.OL to supply seamless steel pipes for up to nine years.
The pipes will be used in oil and gas development as well as carbon capture storage (CCS) in Norway and other locations.
For the past 35 years, the Japanese companies have been providing piping products, known as oil country tubular goods (OCTG), to the Norwegian energy company for oil and gas production.
Nippon Steel and Sumitomo plan to further expand their long-term collaboration with Equinor in the energy sector, according to separate statements from both Japanese companies.
The move follows Nippon Steel and Sumitomo securing orders from QatarEnergy QATPE.UL in June for high-alloy seamless pipes to be used for CCS.
Reporting by Yuka Obayashi, Editing by Louise Heavens
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