US LNG equipment and oil and gas services company Baker Hughes rides wave of energy sector revival
Baker Hughes Company, the US liquefied natural gas equipment-maker and energy services company, reported record orders of $8 billion in the fourth quarter, including for turbo-machinery for LNG production and warned that global spare capacity for oil and gas has deteriorated to the extent it needs a huge investment boost.
Trans-Australia gas pipeline plan starts talk of forgotten fields twice the size of US Permian Basin
A Trans-Australia natural gas pipeline is back on the agenda with supplies being transported from Western Australia to the East Coast instead of, or in addition to, developing LNG import infrastructure and has renewed talk about the undeveloped onshore Australian resources rivalling the US Permian Basin.
Arctic LNG efforts
Feb 2 (LNGJ) - Novatek, the Russian natural gas company and developer of Yamal and Arctic II LNG, has signed a cooperation agreement with Italy-based Nuovo Pignone SpA, a subsidiary of the US Baker Hughes Company, aimed at reducing carbon-dioxide emissions. “The parties intend to cooperate in developing electrical and gas turbine solutions for natural gas and LNG production, as well as solutions for reducing CO2 emissions,” they said.
“Baker Hughes is one of the main equipment suppliers to our Yamal LNG and Arctic LNG 2 projects,” noted Leonid Mikhelson, Novatek’s Chairman. “We are expanding our cooperation with them to develop efficient and economically viable solutions to mitigate the impact on climate change of our projects,” added Mikhelson.
Baker Hughes to provide turbomachinery scope for Oman LNG de-bottlenecking project
Baker Hughes Company, the US energy services and LNG equipment supplier, has signed an agreement with Oman LNG for the turbomachinery scope as part of a de-bottlenecking project in the Arabian Peninsula nation.
Energy services provider Baker Hughes has profits fall offset by Mozambique LNG contract
Baker Hughes Company, the oil and gas services and equipment provider, posted lower fourth-quarter profits while pushing ahead with the provision of liquefaction plant equipment, winning a major order for Mozambique LNG in southeast Africa.
Baker Hughes returns
Oct 18 (LNGJ) - Baker Hughes, a GE energy services and equipment company, has formally changed its name to Baker Hughes Company. It will now be known as Baker Hughes and on October 18 its Class A common stock will begin trading on the New York Stock Exchange under the symbol “BKR”.
“Baker Hughes is uniquely positioned as an energy technology company with a diverse portfolio that spans the entire energy value chain,” said a statement, “The company’s new name and brand better reflect its current and intended principal business operations and diversified portfolio,” it added.
BHGE was formed in mid-2017 through the merger of Houston-based energy services firm Baker Hughes Inc. and London-based LNG plant equipment maker GE Oil & Gas. BHGE and GE have been moving towards a separation for more than a year after announcing their split in June 2018.
