Nippon Steel and Sumitomo Renew Agreement with Equinor to supply Pipes

Japan's biggest steelmaker, Nippon Steel, and trading house Sumitomo Corp added that they have renewed a long-term agreement with Norway's Equinor to supply steel pipes for nine years. The pipes will be utilized in oil and gas advancement as well as carbon capture storage (CCS) in Norway and different areas. Over the last 35 years, Japanese organizations have been giving funneling items, known as oil country tubular goods (OCTG), to the Norwegian energy organization for oil and gas production.

Nippon Steel and Sumitomo plan to additionally grow their long-term partnership with Equinor in the energy area, as per separate explanations from both Japanese organizations. The move follows Nippon Steel and Sumitomo getting orders from QatarEnergy in June for high-combination seamless pipes to be utilized for CCS.

Nippon Steel Corporation is Japan's biggest steelmaker, settled in Chiyoda-ku, Tokyo. The organization has four business sections, including steelmaking, engineering, chemicals, and system solutions. It is the biggest maker of crude steel in Japan and the third biggest worldwide

Sumitomo Corporation is one of the biggest overall sōgō shōsha general exchanging organizations, and is a broadened company. The organization was consolidated in 1919 and is a member firm of the Sumitomo Group.