Gazprom and Severstal sign agreement

Jul 30, 1999 02:00 AM

Gazprom and the Severstal metal company have signed a co-operation deal.
The gas concern has pledged to raise its gas supplies to Severstal to 2.7 billion cubic meters annually in 1999. The metal company, in turn, will provide Gazprom with pipeline components and steel to produce offshore rigs.
The partners will also join forces to develop new types of products and fulfil a wide-scale program to replace imported pipes with domestic ones, the Severstal press service announced.
As part of this project, Severstal has revamped its steel mill and phased in a new electric furnace from the Fuchs firm.
Last year, Severstal began producing six new types of steel. One grade of steel was then used to turn out cold- and corrosion-resistant pipes for Surgutneftegaz.

Source: SEVER PLYUS via NewsBase
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