Long-term OCTG supply contract with Equinor renewed – Strengthens strategic partnership through stable supply

3 July 2024

Nippon Steel Corporation  together with Sumitomo Corporation, has renewed a long-term contract with Equinor ASA for the supply of OCTG to be used in Norway and international for a maximum period of 9 years.

Over the past 35 years, Nippon Steel, together with Sumitomo Corporation, has been supplying OCTG to Equinor for use in oil and gas development and CCS(*) projects, which contribute to the reduction of greenhouse gas emissions. The renewal of the contract is in recognition of the stable supply of high-performance OCTG supplied by Nippon Steel and Sumitomo Corporation, product development tailored to customer needs, reliable just-in-time delivery services, and steady commitment to low carbon, safety and human rights compliance throughout our supply chain.

(*) Carbon Capture and Storage. Technology to capture CO2 emitted mainly from power plants and factories, and then inject and store it underground.

As one of the largest energy companies in Europe, playing a key role in the in Europe's energy security and decarbonization. In addition to its natural gas business, Equinor focuses on decarbonization projects such as CCS, hydrogen and ammonia, and wind power generation.

Through the stable supply of OCTG, Nippon Steel and Sumitomo Corporation will further expand its long-term collaboration with Equinor in the energy sector.