ECONOMY


JFE to Supply steel products to TAP Project

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Baku, July 9 AZERTAC 

JFE Steel Corporation announced today that it will provide hot coils, plates and UOE pipes to the unincorporated consortium of Greek pipe manufacturer Corinth Pipeworks Pipe Industry S.A. (CPW) and Marubeni-Itochu Steel Inc. (MISI), which won a contract to supply steel materials to the Trans Adriatic Pipeline (TAP) project in Europe. JFE Steel will serve as one of the project’s major subcontractors.

JFE Steel will manufacture the steel at its Fukuyama District and Keihin District facilities in Japan. The hot coils and plates will be shipped by the end of 2016 via MISI to CPW, which will process them into pipes.

TAP is an 878-kilometer pipeline that will transport Caspian natural gas from the Greek-Turkish border to Italy via Greece, Albania and the Adriatic Sea. It will require as much as 526,000 tons of steel. TAP’s shareholders are BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%). The project is being implemented by the Trans Adriatic Pipeline AG, which is headquartered in Switzerland.

Going forward, JFE Steel will continue to leverage its wide-ranging production capabilities to supply high-performance, high-quality steel pipes and other steel products for resource and energy-development projects worldwide.

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