Dmitry Pumpyansky: a Serious Transformation Awaits Metallurgy in the Process of Decarbonization of the Industry
The metals industry is about to undergo a major transformation due to efforts to reduce its carbon footprint, a process that will require significant investment. This was stated by Dmitry Pumpyansky, Chairman of the Board of Directors of the Pipe Metallurgical Company (TMK), speaking at the 18th International Metallurgical Summit “Russian Steel: Growth Strategy”, which was held at the Volzhsky Pipe Plant (VTZ), a part of TMK.
“The topic of decarbonization is being actively discussed in the world and in the steel industry in particular. The steel industry is responding very well to these challenges, and steel, given its unique recycling and waste-free recovery capabilities through scrap metal, ranks well over other materials in this competitive race. But, nevertheless, various technologies of steel production are associated with the formation of a large amount of carbon, and the topic of decarbonization of the metallurgical industry and steel products is very relevant. We are entering a serious transformation period that will require significant investments, ”said Dmitry Pumpyansky.
Он отметил, что процесс декарбонизации экономики окажет влияние на конкурентоспособность стальной продукции. В рамках процесса трансформации могут потребоваться специальные меры, включая разработку новых углеродистых марок стали, новых стандартов, перестройка технологических процессов, выпуск экологических сертификатов, а также практика заключения контрактов на разницу цен (CFD-контрактов). Ряд решений в этой связи предстоит принять на государственном уровне и зафиксировать в виде межправительственных соглашений.
Reducing the carbon footprint is one of the priorities for TMK’s ESG strategy and investment programs. As a result of a large-scale modernization from 2006 to 2019, TMK plants completely switched to a more environmentally friendly electric steel-making production, operating on the consumption of secondary raw materials – scrap metal. Modern gas cleaning systems with efficiency up to 99% have been introduced, other measures have been implemented. All these measures have helped to halve the atmospheric emissions of the company’s factories. Currently, TMK is developing a Greenhouse Gas Reduction Strategy for the period up to 2030.
The Russian Steel Summit is the main discussion platform for the Russian ferrous metallurgy, organized in 2003 at the suggestion of the Russian Steel Association by the Metals of Eurasia magazine. It is held annually with the participation of leading companies in the industry, their foreign partners, as well as representatives of government agencies, enterprises and organizations actively interacting with the metallurgical industry. Since 2019, the summit has been moved to the regions where metallurgical companies are present.
