Baker Hughes to Provide Hydrogen-Ready Turbo-Compression Technology for Pipeline in Greece

Rhea-AI Summary

Baker Hughes (NASDAQ: BKR) has secured a contract from TERNA to supply hydrogen-ready gas turbines and compressors for Greece's Natural Gas Transmission System. The project includes three NovaLT12 gas turbines and PCL compressors, capable of blending up to 10% hydrogen. Expected to commence operations in 2024, this initiative supports the EU's Hydrogen Strategy aimed at promoting clean hydrogen and a climate-neutral energy system by 2050. Baker Hughes leverages decades of experience in hydrogen technology to advance the energy transition and ensure gas supply across Europe.

Positive

• Awarded a contract by TERNA for hydrogen-ready gas turbines, supporting sustainable energy.
• Project aligns with EU's Hydrogen Strategy, enhancing Baker Hughes’ strategic market positioning.
• Expected operational date in 2024 may lead to increased future revenues.

Negative

• None.

• Turbines to power compressor upgrade on critical gas supply system
• Contract award follows Baker Hughes installing the first hydrogen-blend gas turbine for a gas network in Italy
• Hybrid hydrogen turbines support EU Hydrogen Strategy goals to accelerate the development of clean hydrogen, ensuring its role as a cornerstone of a climate-neutral energy system by 2050

HOUSTON & LONDON--(BUSINESS WIRE)-- Baker Hughes (NASDAQ: BKR), an energy technology company, has been awarded a contract by TERNA, the construction arm of GEK TERNA Group, to supply gas turbines and compressors that can run on a blend of natural gas and hydrogen for a new compression station of the Greek Natural Gas Transmission System. The compression station will serve domestic gas supply in Greece.

Baker Hughes will provide three compression trains for a total of three NovaLT12 hydrogen-ready gas turbines and three PCL compressors. For this project, the technology has been designed to support the compression station with the capability to transport up to 10% hydrogen. The station is expected to enter operation in 2024 and directly supports the EU’s Hydrogen Strategy goals to accelerate the development of clean hydrogen and ensure its role as a cornerstone of a climate-neutral energy system by 2050.

This latest order builds on Baker Hughes’ extensive experience in developing and supplying turbomachinery equipment to compress, transport and utilize hydrogen. In 2020, the company collaborated with energy infrastructure network provider Snam to introduce the NovaLT12 gas turbine for transporting hydrogen-gas blends within its pipeline network in Italy, marking the first time a hybrid hydrogen turbine was integrated into a natural gas pipeline system.

“Technology is a critical enabler of the energy transition, and our wide range of climate technology solutions helps customers to decarbonize their operations. In addition, this project will advance the understanding of what’s capable in a hydrogen economy and supports Europe’s energy transition goals,” said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “Leveraging our strong foundation of technical expertise, Baker Hughes is proud to work with customers like TERNA to bring new energy frontiers forward in support of climate action, as well as helping to ensure critical natural gas and hydrogen supplies across Europe.”

Baker Hughes’ experience in the treatment of hydrogen began in 1962 with its first hydrogen compressor. Today, the company’s advanced technologies serve the entire hydrogen value chain, from production to transportation and utilization. The company’s portfolio includes advanced compressors, gas turbines, valves, centrifugal pumps, non-metallic pipes, hydrogen sensors, monitoring and diagnostics including inspection solutions for hydrogen embrittlement in production and storage, as well as clean, integrated power solutions to produce power with hydrogen and hydrogen blends. The design of the NovaLT12 allows for blends of between 5% and 100% hydrogen; the entire NovaLT family of gas turbines is 100% designed and manufactured in Baker Hughes plants in Italy.

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 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.

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Media Relations

Chiara Toniato

+39 346 382 3419

Chiara.toniato@bakerhughes.com



Investor Relations:

Jud Bailey

+1-281-809-9088

investor.relations@bakerhughes.com

Source: Baker Hughes

FAQ

What contract has Baker Hughes (BKR) secured recently?

Baker Hughes has been awarded a contract by TERNA to supply hydrogen-ready gas turbines and compressors for Greece's Natural Gas Transmission System.

When is the compression station expected to operate?

The compression station is expected to enter operation in 2024.

How much hydrogen can the new technology blend?

The technology is designed to support blending up to 10% hydrogen.

What is the significance of Baker Hughes' project in Greece?

The project supports the EU's Hydrogen Strategy goals for clean hydrogen development and a climate-neutral energy system.