Compact strip production (CSP) technology is an important upcoming processing route to produce low cost microalloyed high strength pipeline steels that meet the API standards. Hot strips of CMn(VNbTi) and CMn(VNb) steel grades with fine-grained ferrite–pearlite microstructure and small volume fraction of lower transformation product (non-polygonal ferrite: acicular ferrite/bainite) were produced using CSP technology with high strength and excellent low-temperature toughness up to −60°C. For strip thicknesses between 6 and 12.5mm, yield strength levels of up to 590MPa and tensile strength levels up to 680MPa were achieved. The CMn(VNb) steel exhibited outstanding notch-toughness in the range of 200 and 400J/cm², in spite of its higher yield strength (∼100MPa or greater) over the CMn(VNbTi) steel. The precipitates present in CMn(VNbTi) and CMn(VNb) steels were characterized in terms of morphology, size and chemistry, and crystallography. The microalloying elements, Ti, Nb, and V form M₄C₃ type of carbides in the ferrite matrix of both the steels. The multi-microalloying approaches of CMn(VNbTi) and CMn(VNb) results in the formation of duplex and triplex carbonitrides, respectively. The results of the development effort are described.