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Posco, Shell Sign Long-term Supply Deal for Off-shore Plants
10/11/2011 - Posco will be the sole steel plate supplier for various structures on all of Shell’s offshore plant projects through 2016 under a new long-term Enterprise Framework Agreement.
Posco recently signed a long-term Enterprise Framework Agreement with multi-national oil company Shell on the supply of thick steel plate for offshore plants.
Under the agreement, Posco will be the sole steel plate supplier for various structures on all of Shell’s offshore plant projects through 2016, with an opportunity to renew the contract for another 5 years depending on performance. It is very unusual for any major oil company to grant long-term supply rights for steel plates to a specific company.
Steel for offshore plants must conform to very strict standards and quality requirements due to the need for it to withstand harsh conditions. Consequently, the steel market for offshore structures historically has been dominated by top steelmakers in Europe and Japan that have the capacity to produce the most advanced steel.
After much research on steel for offshore structures, Posco has developed and now supplies high-strength plates guaranteed at the welding connections at temperatures of -40˚. To continue to secure technology leadership, Posco plans to develop a new product by next year that can be guaranteed to temperatures as low as -60˚. The company also is researching new materials that can be used in extremely low temperatures for offshore plant applications, with dramatically improved abrasion resistance, weldability and corrosion resistance properties.
Posco plans to capitalize on its new agreement with Shell in its efforts to secure global leadership in the steel market for offshore structures and to become a global steel major company by developing high value-added steel for energy applications.
After much research on steel for offshore structures, Posco has developed and now supplies high-strength plates guaranteed at the welding connections at temperatures of -40˚. To continue to secure technology leadership, Posco plans to develop a new product by next year that can be guaranteed to temperatures as low as -60˚. The company also is researching new materials that can be used in extremely low temperatures for offshore plant applications, with dramatically improved abrasion resistance, weldability and corrosion resistance properties.
Posco plans to capitalize on its new agreement with Shell in its efforts to secure global leadership in the steel market for offshore structures and to become a global steel major company by developing high value-added steel for energy applications.
