Baker Hughes has secured a contract from Venture Global LNG to supply a modularized liquefied natural gas (LNG) system and power island. This contract is part of a master equipment supply agreement covering over 100 million tons per annum (mtpa) of LNG production capacity. While the contract value was not disclosed, this collaboration marks a significant milestone in their ongoing partnership.

Venture Global LNG CEO Mike Sabel emphasized the importance of delivering low-cost LNG at a larger scale for a transition to more secure and sustainable economies. Baker Hughes Chairman and CEO Lorenzo Simonelli highlighted the company's experience and technology advancements that contribute to the efficient use of natural gas, underlining the role of natural gas in the energy transition.

Previously, Baker Hughes and Venture Global LNG executed an expanded master equipment supply agreement to deliver additional liquefaction train systems and power island systems for Venture Global's LNG export projects. The agreement supports Venture Global's expansion plans, aiming to increase LNG export capacity from 70 million mtpa to over 100 million mtpa.

Baker Hughes is also involved in providing LNG technology solutions for the Calcasieu Pass LNG facilities and the Plaquemines LNG facility. Venture Global has taken a final investment decision on both phases of the Plaquemines LNG facility, which is set to produce its first LNG in 2024 with a nameplate capacity of 20 mtpa.

In addition to the LNG contract, Baker Hughes has secured two contracts from Var Energi that expand its presence in the North Sea. These contracts cover exploration logging, well-intervention technology, and subsea production systems for Var Energi's projects in the Norwegian Continental Shelf.