TMK

25.02.2024       

The list of companies subject to US sanctions includes PJSC “Pipe Metallurgical Company” (TMK). At the same time, as can be seen from the list published on the OFAC website, the Office of Foreign Assets Control of the US Department of the Treasury in relation to PJSC TMK worked with special “passion” and all, without exception, subsidiary production units (plants), as well as non-production structures, were subject to sanctions.
US sanctions against PJSC TMK, of course, do not affect the company™s work in Russia. However, significant difficulties will arise in the sale of pipes for the oil and gas industry of Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan.
In my opinion, direct supplies of TMK to state and joint oil and gas companies in the CIS will be reduced to a minimum.
In addition to the sanctions components, In the OCTG market in Central Asia and, to some extent, in Azerbaijan, a redistribution of the market is also taking place.
In March 2023, after the merger of the Chinese giant pipe manufacturer Tianjin Pipe Corporation (TPCO) and CITIC Pacific Special Steel Group, some kind of metallurgical monster, with a production capacity of up to 6 million tons of seamless pipes, with an outer diameter of up to 1200 mm!
In the context of US sanctions and the expansion of the Chinese giant, TMK will have to reformat its work in the CIS countries.

Avtandil Mamedov, pipe industry expert

@@Mail.ru
^