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By Reuters Staff
2 Min Read
MOSCOW (Reuters) - Russian steel producer Severstal said on Monday it aims to double sales of large-diameter pipes (LDP) in 2021, after a decline this year, as it expects a rebound in demand from energy firms. Demand for such pipes has been under pressure this year as the oil and gas industry globally reduced investments in new projects amid the coronavirus pandemic and due to completion of previous infrastructure projects, Severstal said.
The company, controlled by Russian billionaire Alexei Mordashov, plans to sell 400,000 tonnes of LDP in 2021 compared to 200,000 tonnes in 2020 and 383,000 tonnes in 2019, Dmitry Goroshkov, its head of sales to the energy sector, told reporters.