JFE Steel Gets Long Term Steel Line Pipe Supply Pact with Statoil

JFE Steel announced on Thursday the firm got long term supply contracts with Statoil ASA of Norway to supply carbon steel large diameter welded line pipe and 12% chrome seamless line pipe. The firm supplies UOE large diameter pipe through Metal One and 12% chrome pipe through Marubeni-Itochu Steel for 5 years. JFE Steel supplies the products after the firm gets order for each project. Norway based Statoil is the largest energy company in Scandinavian Peninsula. The firm develops oil and natural gas at more than 30 operations in the world, mainly in North Sea area. The firm plans major development plans and is expected to purchase around 900,000 tonnes of steel pipe in a couple of years. JFE Steel will supply steel pipe with low temperature toughness, heavy wall thickness and high strength for better performance under high pressure when Statoil develops energy source and distributes it through long distance pipeline in Europe and North Sea. The energy development needs 12% chrome seamless pipe near oil well for higher corrosion resistance performance.