LNG

Baker Hughes Co., the energy services provider and LNG equipment supplier, said it expected an increase in liquefied natural project activity as it posted solid third-quarter results and more contract wins since regaining its independence from General Electric.

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.

West Delta LNG, a production and export project proposed for offshore Louisiana, has filed an application with the US Maritime Administration and the US Coast Guard for the licensing of a deepwater port that would welcome large and small-scale LNG carriers.

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.

The Italian Nidec Industrial Solutions group has signed a contract with Siemens Gas and Power of Germany whereby the Italians will supply variable frequency drive systems and motors for the Arctic LNG II project planned in northern Siberia by Russian natural gas company Novatek and its partners.

KBR Inc., the US energy and LNG engineering company, has selected Baker Hughes-GE to supply gas turbine driver technologies for the ongoing development of KBR's standardized design for a mid-scale LNG liquefaction plant.

Abu Dhabi National Oil Company (ADNOC), the leading energy group in the United Arab Emirates and a long-standing LNG exporter with investment plans in downstream projects to boost natural gas production, has signed a deal to allow US energy services firm Baker Hughes-GE to acquire a stake in subsidiary ADNOC Drilling.

Baker Hughes-GE, the LNG equipment-maker and oil and gas services company created by the merger of General Electric with the US company famous for its rig counts, has sealed an agreement to sell its Natural Gas Solutions (NGS) business in two deals to separate firms.

Norwegian company Global LNG Services (GLS), a developer of floating liquefaction hulls, said it had selected US energy services company Baker Hughes-GE to supply equipment as it makes progress on its Main Pass FLNG project to be located 16 miles offshore Louisiana in the Gulf of Mexico.

Baker Hughes-GE, the US energy services company, said it was awarded a substantial contract from Chevron Corp. for the supply of subsea production equipment to enable a second development phase within the Greater Gorgon area offshore Australia, helping to maintain feed-gas supply for the Gorgon LNG plant on Barrow Island.