The company will collaborate with PDVSA, Lindsayca and Fulcrum LNG and New Stratus Energy.
Moscow, October 6 – Neftegaz.RU. Baker Hughes, an energy technology company, Monday announced the signing of two strategic agreements to accelerate the revitalization of Venezuela’s energy infrastructure across the natural gas value chain and expansion of the country’s energy production.
In Caracas, the company signed:
- a strategic alliance agreement with PDVSA, Lindsayca and Fulcrum LNG, Inc. to revitalize and expand the country’s natural gas infrastructure;
- a separate Memorandum of Understanding (MOU) with New Stratus Energy Inc. to support the development of future oil and gas prospects.
These agreements establish an enterprise deal framework that can connect upstream resource development, midstream infrastructure, gas monetization, and
LNG commercialization. This creates a pathway to unlock Venezuela's significant natural gas potential.
Under the alliance with PDVSA, Lindsayca and Fulcrum, the companies will combine Baker Hughes' broad portfolio of industrialized energy solutions for oil and gas field development, gas infrastructure and LNG solutions, Lindsayca's engineering, procurement, construction, and operational capabilities, and Fulcrum's midstream and LNG project development, financing and market access.
The collaboration will focus on developing project specific agreements, advancing critical infrastructure required to process, transport, commercialize, and export natural gas, for the first time in the history of Venezuela. Through the MOU with New Stratus Energy, Baker Hughes will support the development of future oil and gas prospects.
«A central objective of these partnerships is the development of an integrated gas value chain capable of transforming Venezuela's substantial natural gas resources into reliable domestic supply and future export opportunities, including the potential to export the first LNG molecules produced in Venezuela», said Lorenzo Simonelli, chairman and CEO of Baker Hughes.
«In the near term, we will work closely with PDVSA to identify and execute the infrastructure developments and upgrades needed to meet its internal gas requirements, while pursuing opportunities to supply natural gas to the domestic market to support reliable power generation for Venezuela and its people. Over the medium and long term, we will evaluate the development and financing of new open-access midstream and LNG infrastructure that gives PDVSA and other upstream operators solutions to monetize their gas, positioning Venezuela to become a key player in the global gas and LNG industry and helping meet growing world energy demand», said Jesus Bronchalo, CEO of Fulcrum LNG, Inc.
About Baker Hughes in Venezuela
Baker Hughes has supported Venezuela’s energy sector for more than 60 years. Its installed base in country includes more than 1,200 oil production systems, the largest artificial lift footprint, significant flexible pipe infrastructure, and approximately 240 turbomachinery units across 23 sites.
