Baker Hughes Awarded Significant Gas Technology Scope for Phase 3 of Saudi Arabia’s Master Gas System

Rhea-AI Summary

Baker Hughes, an energy technology company, has been awarded a significant gas technology scope for Phase 3 of Saudi Arabia’s Master Gas System project. The company will supply 17 pipeline centrifugal compressors driven by aeroderivative gas turbines to increase gas distribution across Saudi Arabia, supporting the Kingdom’s goal of reducing carbon emissions. The order builds on the successful completion of Phase 1 and 2 agreements, showcasing Baker Hughes' commitment to sustainable energy solutions.

Positive

• Baker Hughes awarded a contract to supply 17 pipeline centrifugal compressors for Phase 3 of Saudi Arabia’s Master Gas System project.
• New pipeline project aims to increase gas distribution in Saudi Arabia and reduce carbon emissions.
• Baker Hughes' partnership with Aramco continues to drive energy transition efforts in Saudi Arabia.
• Investments in expanding manufacturing capabilities in Saudi Arabia are underway to support project delivery.

Negative

• None.

• Baker Hughes to supply 17 pipeline centrifugal compressors driven by state-of-the-art aeroderivative gas turbines
  
• Award builds on Master Gas System Phase 1 & 2 agreement, which saw Baker Hughes deliver 18 centrifugal compressors driven by aeroderivative gas turbines
• New pipeline aims to increase gas distribution across Saudi Arabia, supporting the Kingdom’s ambition to reduce carbon emissions
  

HOUSTON and LONDON, April 23, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Tuesday that it has received an order by Worley, for and on behalf of Aramco, to supply gas technology equipment for the third phase of Saudi Arabia’s Master Gas System project. The award was booked in the first quarter of 2024.

Baker Hughes will supply 17 pipeline centrifugal compressors driven by state-of-the-art aeroderivative gas turbines for Aramco’s project. The new 4,000-km pipeline is vital to the Kingdom’s energy transition, with expectations to increase domestic gas distribution and contribute to a reduction of carbon emissions and oil consumption. The order follows the delivery of 18 of Baker Hughes centrifugal compressors driven by aeroderivative gas turbines for Phase 1 and 2 of the Master Gas System projects executed by Baker Hughes.

“Saudi Arabia is in a unique position to ease the pressures of the energy trilemma with its vast supply of gas,” said Yahya Abu Shal, senior vice president, Project Management at Aramco. “Our collaboration with Baker Hughes has been greatly successful for many years. Their technologies have been used for Phase 1 and 2 of the Master Gas System, and we look forward to continuing our work together to decarbonize critical industries across Saudi Arabia.”

“For over 30 years, Baker Hughes has been a trusted partner in natural gas operations, and our long-standing partnership with Aramco is helping to reduce emissions by transitioning to gas,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Baker Hughes solutions are advancing the efficient use of natural gas, and we are proud to be delivering a reliable system to transport and distribute gas across Saudi Arabia.”

Baker Hughes is also investing in expanding its manufacturing site in Modon, Saudi Arabia. In addition to doubling the capacity of its workforce, the upgraded site will further support the delivery of projects in the country, including MGS3, with localized testing and packaging solutions. In February, Baker Hughes announced the delivery of the first two trains of advanced hydrogen compression solutions for the NEOM green hydrogen project in the Kingdom, the largest such project in the world.

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

Madonna Mekhail
+971 545816086
Madonna.Mekhail@bakerhughes.com

Investor Relations

Chase Mulvehill
+1 281-809-9088
investor.relations@bakerhughes.com

FAQ

What is Baker Hughes' ticker symbol?

Baker Hughes' ticker symbol is BKR.

What gas technology equipment will Baker Hughes supply for Phase 3 of Saudi Arabia’s Master Gas System project?

Baker Hughes will supply 17 pipeline centrifugal compressors driven by state-of-the-art aeroderivative gas turbines for Phase 3 of Saudi Arabia’s Master Gas System project.

Who awarded Baker Hughes the contract for the gas technology equipment?

Baker Hughes was awarded the contract by Worley, on behalf of Aramco, for the gas technology equipment.

What is the goal of the new 4,000-km pipeline in Saudi Arabia?

The new 4,000-km pipeline aims to increase domestic gas distribution and contribute to a reduction in carbon emissions and oil consumption in Saudi Arabia.

What previous projects did Baker Hughes complete for the Master Gas System?

Baker Hughes delivered 18 centrifugal compressors driven by aeroderivative gas turbines for Phase 1 and 2 of the Master Gas System projects.

What is Baker Hughes' role in reducing emissions in Saudi Arabia?

Baker Hughes is helping to reduce emissions in Saudi Arabia by advancing the efficient use of natural gas and delivering reliable gas transportation and distribution systems.