Baker Hughes scores ‘major technology order’ from Venture Global LNG
Baker Hughes scores 'major technology order' from Venture Global LNG - Offshore Energy
Baker Hughes scores ‘major technology order’ from Venture Global LNG
Energy technology company Baker Hughes has secured a contract with U.S.-based Venture Global LNG to provide a modularized LNG system and power island.
The contract, which was described as a major gas technology equipment order, was awarded under a master equipment supply agreement between the two companies for more than 100 million tons per annum (mtpa) of production capacity, which was expanded from 70 mtpa and announced during this year’s Gastech in Singapore.
The award, to be booked in the third quarter of 2023, builds on previous contracts from Venture Global to Baker Hughes to provide comprehensive LNG technology solutions for the Calcasieu Pass and Plaquemines LNG projects in Louisiana.
“We are excited to add another milestone in our successful collaboration with Baker Hughes as a strategic LNG technology supplier, building on the expansion of our agreement,” said Mike Sabel, CEO of Venture Global. “To enable a successful transition to more secure and sustainable economies, it is critical that we continue to further our mission of delivering low-cost LNG at a larger scale. We are grateful for our continued partnership with Baker Hughes, a world leader in energy technology, and look forward to building on our successful collaboration in our upcoming projects.”
“We have been a trusted partner in natural gas operations for more than 30 years and have been able to bring that depth of experience into the recent LNG market upturn. This further expansion of our collaboration with Venture Global reaffirms that Baker Hughes technologies are advancing the efficient use of natural gas, and we are honored to continue to support their projects,” added Lorenzo Simonelli, chairman and CEO of Baker Hughes. “The continuing demand for LNG emphasises the pivotal role that natural gas will play in the energy transition, helping to secure supply and to reach net-zero emissions.”
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.