Baker Hughes to Provide CO2 Compression Equipment for Santos Moomba Carbon Capture & Storage Project in Australia

Rhea-AI Summary

Baker Hughes (NASDAQ: BKR) has secured a contract with Santos to provide turbomachinery for the Moomba Carbon Capture and Storage (CCS) project in South Australia. This project aims to permanently store 1.7 million tonnes of CO₂ annually in depleted gas reservoirs and is a significant step in Santos' energy transition efforts. Baker Hughes will supply advanced technologies, including the PGT25+G4 gas turbine and MCL and BCL compressors, to compress and store CO₂. This partnership marks over 35 years of collaboration between Baker Hughes and Santos, focusing on decarbonizing natural gas and advancing blue hydrogen production.

Positive

• Contract with Santos strengthens Baker Hughes' position in the CCS market.
• Project aims to store 1.7 million tonnes of CO₂ annually, supporting environmental sustainability.
• Demonstrates Baker Hughes' advanced turbomachinery technology in carbon management.

Negative

• None.

• Baker Hughes will provide proven gas turbine and compressor technology
• Moomba carbon capture and storage (CCS) project aims to be one of the largest in the world
• CO₂ to be stored permanently and safely in depleted natural gas reservoirs
• Demonstrates key enabling technology required for future blue hydrogen production

HOUSTON & LONDON--(BUSINESS WIRE)-- Baker Hughes (NASDAQ: BKR), an energy technology company, has been awarded a contract with Santos, a leading natural gas producer in Australia, to supply turbomachinery equipment for the Moomba Carbon Capture and Storage (CCS) project (“Moomba CCS”). The project will serve a gas processing plant and permanently store 1.7 million tonnes of carbon dioxide annually in depleted natural gas reservoirs in the onshore Cooper Basin in South Australia. Baker Hughes will provide gas turbine, compressor and heat recovery steam generator (HRSG) technologies to compress the carbon dioxide (CO₂).

The contract follows a 35+ year history of Baker Hughes providing technology and services to Santos for its operations, including turbomachinery and offshore equipment and services. Moomba CCS further progresses the companies’ relationship as Santos evolves its own operations across the energy transition and leverages Baker Hughes’ comprehensive portfolio of carbon capture, utilization, and storage (CCUS) solutions. Specifically, Baker Hughes will provide PGT25+G4 aeroderivative gas turbine, MCL compressor, and BCL compressor technology, which will enable Santos to compress CO₂ captured at Moomba CCS for transportation and subsequent injection for storage.

Baker Hughes’ broader CCUS portfolio features advanced turbomachinery, solvent-based state-of-the-art capture processes, well construction and management for CO₂ storage, and advanced digital monitoring and industrial asset management solutions.

“This project exemplifies the range of solutions that energy and industrial companies are seeking across the energy transition and how collaboration is needed to lower emissions and enhance efficiencies from their operations,” said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “Through our advanced turbomachinery technology, we are supporting Santos to decarbonize natural gas while providing an opportunity to utilize CO₂ as a valuable input for producing reliable energy with advanced blue hydrogen.”

The contract for Baker Hughes’ technology lays a foundation for Santos’ future objectives of decarbonizing natural gas, lowering emissions and ultimately producing hydrogen fuel using stored CO₂. A final investment decision on the Moomba CCS project was reached in November 2021.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and with operations 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005167/en/

Media Relations

Chiara Toniato

+39 346 382 3419

chiara.toniato@bakerhughes.com

Investor Relations:

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Source: Baker Hughes

FAQ

What recent contract did Baker Hughes secure with Santos?

Baker Hughes secured a contract to provide turbomachinery for the Moomba Carbon Capture and Storage project in South Australia.

What is the Moomba Carbon Capture and Storage project's goal?

The project aims to permanently store 1.7 million tonnes of CO₂ annually in depleted natural gas reservoirs.

How does the Moomba CCS project contribute to Baker Hughes' business?

It enhances Baker Hughes' portfolio in carbon capture technology and strengthens their long-standing relationship with Santos.

What technologies will Baker Hughes provide for the Moomba CCS project?

Baker Hughes will supply the PGT25+G4 gas turbine, MCL and BCL compressors, and heat recovery steam generators.

When did Baker Hughes and Santos reach a final investment decision for the Moomba CCS project?

The final investment decision was reached in November 2021.