Sumitomo Corporation and Nippon Steel Partner with Equinor for Long-term OCTG Supply

Sumitomo Corporation and Nippon Steel Corporation have secured a significant nine-year contract with Equinor ASA, a leading Norwegian energy company, to supply Oil Country Tubular Goods (OCTG). This partnership, spanning 35 years, emphasizes their commitment to supporting oil and gas development and Carbon Capture and Storage (CCS) projects aimed at reducing greenhouse gas emissions.

Equinor, at the forefront of European energy supply and decarbonization efforts, values the high quality and reliable delivery of OCTG from Sumitomo and Nippon Steel. The collaboration underscores their joint dedication to sustainable, low-carbon steel solutions and human rights.

Equinor's strategic initiatives in CCS, hydrogen production, ammonia utilization, and offshore wind energy highlight its proactive approach to addressing climate challenges while ensuring energy security. This partnership not only enhances supply chain resilience but also fosters innovation in low-carbon technologies, driving towards a sustainable energy future.

Sumitomo Corporation, a global leader with a diverse business portfolio across 66 countries and regions, remains committed to enriching lives and advancing global sustainability through its longstanding corporate ethos and strategic partnerships.

评论

发表评论

此博客中的热门博文

Lloyd’s Register and Partners Collaborate on Green Hydrogen Infrastructure Project

Lloyd’s Register has partnered with H2Terminals Limited, HiDROGEN, and D3IM under a Memorandum of Understanding (MoU) to explore the feasibility of a green hydrogen infrastructure project in the UK. This initiative aims to develop floating production and transportation of hydrogen, addressing regulatory requirements and fostering economic growth along the Thames Estuary and River. The project entails establishing offshore renewable energy facilities and a floating island for green hydrogen production. Hydrogen will be liquefied, transported by ship, and converted into electricity and hot water at a terminal near London. Batteries on floating barges will store electricity for distribution, supporting regional industrial development and decarbonization goals. Mark Tipping, LR's Power to X Director, highlighted the project's potential to advance supply chain decarbonization and stimulate economic growth, while Gerry Wilkinson, CEO of H2Terminals, emphasized the initiative's ro
阅读全文

Wuhuan Engineering Joins Kazakhstan's Major Nitrogen Fertilizer Project

 On July 2, 2024, Wuhuan Engineering Co., a subsidiary of China National Chemical Engineering Group Corporation, signed an EPC contract with KazAzot in Astana for Kazakhstan's first large-scale, modern nitrogen fertilizer complex. This key project aims to fill the domestic fertilizer gap, enhance the chemical industry, and support Kazakhstan's economic transformation. Wuhuan Engineering, located in Wuhan East Lake High-tech Development Zone (Optics Valley of China), is a state-owned leader in chemical design and construction. The company has completed over 3,000 design projects and 300 EPC projects, including more than 200 overseas in countries like Vietnam, Zambia, and Tunisia.
阅读全文

Methionine Prices Set to Surge in Western Markets Amid Supply Chain Disruptions and Rising Demand

In the beginning of the third quarter, Methionine prices in Western markets are poised for an increase driven by robust demand from food and feed industries downstream. Market participants are expected to raise prices to boost profitability, supporting the upward trend. Supply chain disruptions originating in Asia, including equipment shortages and port congestion, continue to constrain Methionine availability. Despite signs of improvement, these challenges persistently fall short of meeting high demand levels. Anticipated blank sailings in July and August will exacerbate supply constraints, coinciding with the peak season months that traditionally see heightened demand. Moreover, significant Peak Season Surcharges announced by carriers in July will escalate shipping costs, further lifting Methionine prices in Western markets. Rising ocean freight rates in U.S. corridors, driven by global container demand, will add to import costs from Asia, likely passed on to consumers reliant on the
阅读全文