LNG

Baker Hughes-GE, the energy services company and LNG equipment supplier, reported sluggish first-quarter earnings even as it logged two important turbomachinery contracts for projects in West Africa and the US Gulf Coast.

Baker Hughes-GE, the US energy services company and a main provider of turbomachinery for liquefied natural gas production plants, said the LNG outlook was improving and the company “conservatively” estimates a total of 65 million tonnes per annum of new capacity would be sanctioned by 2020.