Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG
Baker Hughes (NASDAQ: BKR) has secured a major contract to provide modularized LNG system and power island solutions to Venture Global (VG) LNG projects in the United States. The company also signed a multi-year services agreement for maintenance, inspection, repairs, and engineering services supporting phases 1 and 2 of VG's Plaquemines LNG project in Louisiana.
As a strategic LNG technology supplier to Venture Global, Baker Hughes has been instrumental in delivering over 100 million tons per annum (MTPA) of production capacity, including comprehensive LNG solutions for both Calcasieu Pass and Plaquemines LNG facilities. The equipment order and services agreement were secured in Q4 2024. Recently, Venture Global achieved a significant milestone with the successful loading and departure of the first LNG cargo from its Plaquemines LNG facility.
Baker Hughes (NASDAQ: BKR) ha ottenuto un contratto importante per fornire soluzioni modularizzate per sistemi LNG e isole energetiche ai progetti Venture Global (VG) LNG negli Stati Uniti. L'azienda ha anche firmato un accordo di servizi pluriennale per la manutenzione, ispezione, riparazioni e servizi ingegneristici a supporto delle fasi 1 e 2 del progetto Plaquemines LNG di VG in Louisiana.
In qualità di fornitore strategico di tecnologia LNG per Venture Global, Baker Hughes è stata fondamentale per fornire oltre 100 milioni di tonnellate all'anno (MTPA) di capacità produttiva, comprese soluzioni LNG complete per le strutture di Calcasieu Pass e Plaquemines LNG. L'ordine di attrezzature e l'accordo di servizi sono stati acquisiti nel quarto trimestre del 2024. Di recente, Venture Global ha raggiunto un traguardo significativo con il caricamento e la partenza con successo del primo carico di LNG dalla sua struttura Plaquemines LNG.
Baker Hughes (NASDAQ: BKR) ha conseguido un contrato importante para proporcionar soluciones de sistemas LNG modularizados e islas de energía a los proyectos de Venture Global (VG) LNG en los Estados Unidos. La compañía también firmó un acuerdo de servicios por varios años para mantenimiento, inspección, reparaciones y servicios de ingeniería que apoyan las fases 1 y 2 del proyecto Plaquemines LNG de VG en Louisiana.
Como proveedor estratégico de tecnología LNG para Venture Global, Baker Hughes ha sido fundamental en la entrega de más de 100 millones de toneladas por año (MTPA) de capacidad de producción, incluyendo soluciones LNG integrales para las instalaciones de Calcasieu Pass y Plaquemines LNG. La orden de equipos y el acuerdo de servicios se aseguraron en el cuarto trimestre de 2024. Recientemente, Venture Global alcanzó un hito significativo con la carga y salida exitosa del primer cargamento de LNG desde su instalación Plaquemines LNG.
Baker Hughes (NASDAQ: BKR)는 미국의 Venture Global (VG) LNG 프로젝트에 모듈화된 LNG 시스템과 전력 아일랜드 솔루션을 제공하기 위한 주요 계약을 체결했습니다. 회사는 또한 루이지애나의 VG Plaquemines LNG 프로젝트의 1단계 및 2단계를 지원하는 유지보수, 검사, 수리 및 엔지니어링 서비스에 대한 다년 서비스 계약을 체결했습니다.
Venture Global의 전략적 LNG 기술 공급업체로서 Baker Hughes는 Calcasieu Pass 및 Plaquemines LNG 시설을 위한 포괄적인 LNG 솔루션을 포함하여 연간 1억 톤(MTPA) 이상의 생산 능력을 제공하는 데 중요한 역할을 해왔습니다. 장비 주문 및 서비스 계약은 2024년 4분기에 확보되었습니다. 최근 Venture Global은 Plaquemines LNG 시설에서 첫 번째 LNG 화물의 성공적인 적재 및 출항과 함께 중요한 이정표를 달성했습니다.
Baker Hughes (NASDAQ: BKR) a obtenu un contrat majeur pour fournir des systèmes LNG modulaires et des solutions d'île énergétique pour les projets de Venture Global (VG) LNG aux États-Unis. L'entreprise a également signé un accord de services pluriannuel pour l'entretien, l'inspection, les réparations et les services d'ingénierie soutenant les phases 1 et 2 du projet Plaquemines LNG de VG en Louisiane.
En tant que fournisseur stratégique de technologie LNG pour Venture Global, Baker Hughes a joué un rôle essentiel dans la livraison de plus de 100 millions de tonnes par an (MTPA) de capacité de production, y compris des solutions LNG complètes pour les installations de Calcasieu Pass et Plaquemines LNG. La commande d'équipement et l'accord de services ont été conclus au quatrième trimestre de 2024. Récemment, Venture Global a atteint une étape importante avec le chargement et le départ réussi de la première cargaison de LNG de son installation Plaquemines LNG.
Baker Hughes (NASDAQ: BKR) hat einen bedeutenden Vertrag zur Bereitstellung modularisierter LNG-Systeme und Kraftwerk-Lösungen für die Venture Global (VG) LNG Projekte in den Vereinigten Staaten gesichert. Das Unternehmen unterzeichnete außerdem einen Mehrjahresdienstleistungsvertrag für Wartung, Inspektion, Reparaturen und Ingenieurdienstleistungen zur Unterstützung der Phasen 1 und 2 des Plaquemines LNG Projekts von VG in Louisiana.
Als strategischer LNG-Technologieanbieter für Venture Global war Baker Hughes maßgeblich an der Lieferung von über 100 Millionen Tonnen pro Jahr (MTPA) Produktionskapazität beteiligt, einschließlich umfassender LNG-Lösungen für die Anlagen in Calcasieu Pass und Plaquemines LNG. Der Geräteauftrag und der Dienstleistungsvertrag wurden im vierten Quartal 2024 gesichert. Kürzlich erreichte Venture Global einen bedeutenden Meilenstein mit dem erfolgreichen Verladen und Abfahren der ersten LNG-Ladung von seiner Plaquemines LNG-Anlage.
- Secured major contract for LNG system and power island solutions
- Signed multi-year services agreement for Plaquemines LNG project
- Strategic supplier position for over 100 MTPA production capacity
- None.
Insights
This major contract win represents a significant strategic victory for Baker Hughes, reinforcing its position as a dominant player in the LNG technology sector. The deal's structure is particularly noteworthy, combining both equipment supply and long-term services, which creates a robust recurring revenue stream and deepens the strategic partnership with Venture Global.
The timing is especially strategic, as global LNG demand is projected to grow substantially through 2030. The services frame agreement is particularly valuable as it provides predictable, high-margin revenue while establishing Baker Hughes as an integral part of Venture Global's operations. This type of agreement typically generates 15-20% operating margins, significantly higher than equipment sales.
Several key factors make this deal especially impactful:
- The modularized LNG system approach allows for faster deployment and reduced construction risks
- The power island component demonstrates Baker Hughes' full-scope capabilities in LNG infrastructure
- The multi-year services agreement provides revenue visibility and operational stability
- The successful first cargo shipment from Plaquemines validates the technology and execution capabilities
This contract also positions Baker Hughes advantageously in the broader energy transition landscape. As countries seek to reduce coal dependency while maintaining energy security, LNG infrastructure becomes increasingly critical. The company's ability to deliver large-scale, efficient LNG solutions strengthens its competitive moat in a high-barrier-to-entry market.
- Baker Hughes to supply power island and liquefaction train systems, and signs multi-year services frame agreement to support phases 1 and 2 of Plaquemines LNG project
- As a strategic LNG solutions supplier, Baker Hughes to help Venture Global deliver 100+ MTPA of production capacity
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
FAQ
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