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| Sumitomo Metal Wins UO Pipe Deal For Nord Stream Gas Pipeline |
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Japan's integrated steelmaker Sumitomo Metal Industries Ltd has won a contract with Nord Stream AG via Sumitomo Corp to provide UO pipes for the Russo-European joint venture's Nord Stream gas pipeline project. Nord Stream adopted a resolution in favor of purchasing UO pipes from three selected suppliers at the company's general meeting of shareholders held Jan 22 at its head office in Zug, Switzerland. Sumitomo Metal is one of the three selected suppliers. Nord Stream has informed Germano-French pipe manufacturer Europipe, Russia's Vyksa Steel Works, and Sumitomo Metal of the values of separate UO pipe orders in percentages without specifying the quantities required. The values are described as 65% for Europipe, 25% for Vyksa, and 10% for Sumitomo Metal. It is uncertain what quantity of UO pipes Sumitomo Metal will supply for Nord Stream. The Japanese steelmaker's supply volume could stand at 100,000-130,000 tons, market sources estimate. The Nord Stream gas pipeline project is intended to bring Russian natural gas into Germany and elsewhere ion North Europe via the Baltic Sea. UO pipe requirements are estimated to total 1,000,000 tons. |
| last modified : Fri 29 Jan, 2010 [10:16] |
