In the API 5L standard, Grade B and L245 are the same steel grade; they differ only in naming convention, while their performance specifications are identical.
Grade B: Traditional naming convention.
L245: Metric/ISO naming convention, where “L” stands for “Line pipe” and “245” represents a minimum yield strength of 245 MPa.
Provided that the applicable API 5L specification and product grade are the same, the two designations are generally interchangeable in international pipeline projects.