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from the world of economics and financeBaker Hughes secures contracts for LNG systems and services to support Venture Global's Plaquemines LNG project.
Baker Hughes has announced a significant contract to deliver a modular liquefied natural gas (LNG) system and power island for Venture Global's LNG projects in the U.S., along with a multi-year services agreement for maintenance and support for phases 1 and 2 of the Plaquemines LNG project in Louisiana. This collaboration is aimed at enhancing LNG production capacity to over 100 million tons per annum, reflecting a growing demand for reliable energy sources. Both the equipment order and services agreement were finalized in the fourth quarter of 2024. Baker Hughes has a long-standing relationship with Venture Global, having previously contributed to LNG facilities such as Calcasieu Pass, and the recent news highlights a continued commitment to sustainable energy solutions.
Baker Hughes has secured a contract to provide a modularized LNG system and power island for the Plaquemines LNG project.
The agreement includes maintenance, inspection, repairs, and engineering services to support phases 1 and 2 of the Plaquemines LNG project.
Baker Hughes will help Venture Global deliver over 100 million tons per annum (MTPA) of LNG production capacity.
The facility successfully loaded and departed its first LNG cargo after reaching initial production.
Lorenzo Simonelli is the chairman and CEO, emphasizing reliable and efficient natural gas operations for sustainable energy development.
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HOUSTON and LONDON, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday that it has been awarded a major contract to provide a modularized liquefied natural gas (LNG) system and power island to support Venture Global (VG) LNG projects in the United States. In addition, Baker Hughes signed a multi-year services frame agreement, including maintenance, inspection, repairs and engineering services, to support phases 1 and 2 of VG’s Plaquemines LNG project in Louisiana. The equipment order and services agreement were both secured in the fourth quarter of 2024.
“As power demand surges, LNG has a critical role to play in providing a reliable, flexible fuel source that can be quickly scaled to meet rising demand,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “We have been a trusted partner in natural gas operations for more than 30 years, and our collaboration with Venture Global is a key example of what our industry needs more of today: businesses coming together to leverage best-in-class technologies and services that can deliver reliable and efficient natural gas operations to support sustainable energy development.”
“Baker Hughes continues to be a trusted partner for Venture Global in delivering a secure, reliable energy supply to the world and we are thrilled to add another significant milestone on our partnership,” said Mike Sabel, CEO of Venture Global.
Baker Hughes, as a strategic LNG technology supplier to Venture Global
for more than 100 million tons per annum (MTPA)
of production capacity, has already
provided comprehensive
LNG solutions to the Calcasieu Pass and Plaquemines LNG facilities.
Recently, Venture Global
announced
the successful loading and departure of the first liquefied natural gas (LNG) cargo produced from its Plaquemines LNG facility, after reaching first LNG production.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at
bakerhughes.com
.
For more information, please contact:
Media Relations
Chiara Toniato
+39 3463823419
chiara.toniato@bakerhughes.com
Investor Relations
Chase Mulvehill
+1 281-809-9088
investor.relations@bakerhughes.com
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