Shale gas 'revolution' diversifying market

Jun 08, 2012 | 01:58 PM | Michael Cowden

Tags  shale gas, OCTG, George Thompson, U.S. Steel, Manish Trivedi, ArcelorMittal, Paul Fullerton, TMK Ipsco tubulars

PITTSBURGH — The "shale gas revolution" in the United States, in addition to changing how and what kind of energy tubulars are made, is affecting how global oil country tubular goods (OCTG) supply chains are organized, steel industry executives said.

Thanks to shale reserves, U.S. energy independence is an "attainable" goal, according to George H. Thompson Jr., vice president of the tubular commercial division for Pittsburgh-based U.S. Steel Corp.

The shale boom has made the OCTG market the "best steel product market in the world as far as margins," he said during a panel discussion at Platts’ third annual SBB Shale Play Tubulars Conference in Pittsburgh. "Unfortunately, it also attracts a lot of new players and it brings in a lot of imports."....

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