Baker Hughes Supports Venture Global LNG Projects with Technology and Equipment
Baker Hughes, a leading oilfield services provider, has inked an agreement with Venture Global to furnish its liquefied natural gas (LNG) initiatives in the United States with cutting-edge technology and equipment.
Supporting Venture Global's Plaquemines LNG Project
As part of this collaboration, Baker Hughes has entered into a services frame agreement to back the first two phases of Venture Global's Plaquemines LNG project in Louisiana.
LNG's Critical Role in Meeting Energy Demand
"Amid soaring energy demand, LNG holds significance as a reliable and adaptable fuel source that can be rapidly scaled to address increasing needs," stated Baker Hughes CEO Lorenzo Simonelli.
Venture Global's Expansion and Market Leadership
Headquartered in Arlington, Virginia, Venture Global is the second-largest LNG exporter in the United States. It has swiftly ramped up production at its Plaquemines plant and recently secured $1.75 billion in an IPO, making it the most valuable U.S.-based pure LNG company.
Arbitration Cases Involving Venture Global
Despite its success, Venture Global faces ongoing arbitration cases instigated by energy giants like BP, Shell, and Edison. These companies claim that Venture Global has failed to deliver gas promised under long-term contracts from its Calcasieu Pass facility.