Argent LNG LCC (Argent LNG) has selected Baker Hughes (NASDAQ: BKR), an energy technology company, as the liquefaction solution and related services provider for its proposed liquified natural gas (LNG) export facility in Port Fourchon, Louisiana. Baker Hughes will supply cutting-edge liquefaction solutions, power generation equipment, and gas compression systems for the facility, which is set to deliver approximately 24 million tonnes per annum (MTPA) of LNG. The announcement was made during Baker Hughes’ Annual Meeting in Florence.
The project will incorporate Baker Hughes’ advanced technologies, including its NMBL™ modularized LNG solution powered by the highly efficient LM9000 gas turbine. These modules, pre-fabricated and tested at Baker Hughes’ facilities, will ensure scalable and reliable LNG production to the project and integrate iCenter™ digital solutions powered by Cordant™ to maximize availability, reliability, and operational efficiency. Baker Hughes will also provide power generation units driven by LM9000 gas turbines and provide multi-year services to support Argent LNG terminal operations.
By leveraging its extensive knowledge and experience in LNG development, Baker Hughes will help optimize project execution, and ensure a streamlined, cost-effective design, allowing Argent LNG to move forward with greater efficiency and financial certainty.
“Today’s announcement is a further testament to the technology capabilities that we have built over the past 30-plus years in LNG. This collaboration with Argent LNG underscores our commitment to delivering advanced, best-in-class LNG solutions,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “As global energy demand continues to grow, we are committed to providing innovative technology solutions to the LNG industry, a key supplier of reliable and affordable energy to many countries around the world.”
“We chose Baker Hughes because of their proven cutting-edge technology, established LNG market presence, and commitment to innovation — all of which align perfectly with Argent LNG’s vision to provide transformative energy solutions,” said Jonathan Bass, chairman and CEO of Argent LNG. “This collaboration underscores Argent LNG’s commitment to technical excellence, cost-effective execution, and energy security, while also strengthening the project’s bankability by leveraging Baker Hughes’ proven expertise and industry leadership. Today’s announcement demonstrates how innovation and collaboration can drive progress in the LNG industry, helping to secure affordable, sustainable energy for global markets.”
Phase 1 construction is targeted to begin in 2026, with commercial operations expected by 2030. Phase 2, which aims to expand capacity, is advancing through critical milestones, including resource reporting, securing FERC approvals, formalizing gas supply agreements, and achieving financial close.
Baker Hughes expects orders in relation to this agreement, as the Argent LNG project progresses and reaches Final Investment Decision, further solidifying its key role in Argent LNG’s long-term success.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
About Argent LNG
Argent LNG LLC is a privately held energy company dedicated to developing world-class LNG export solutions to meet the rising global demand for clean, reliable energy. Based in Louisiana, Argent LNG is focused on leveraging cutting-edge technologies and strategic partnerships to deliver cost-effective, sustainable, and efficient energy solutions. The company’s proposed export facility at Port Fourchon is designed to strengthen energy security and economic growth while reinforcing the United States’ leadership in the global LNG market.
Tuesday, 18 March 2025
Baker Hughes, NextDecade Enter Framework Agreement for Rio Grande LNG Expansion Trains
Baker Hughes (NASDAQ: BKR), an energy technology company, and NextDecade Corporation (NASDAQ: NEXT) and announced Tuesday that they have entered into a framework agreement whereby NextDecade plans to utilize Baker Hughes’ gas turbine and refrigerant compressor technology (Equipment Packages) and enter into contractual services agreements to perform maintenance work for these Equipment Packages for Trains 4 through 8 at the Rio Grande LNG Facility.
“Utilizing Baker Hughes’ industry-leading rotating equipment and their maintenance services is critical to ensuring the Rio Grande LNG Facility operates efficiently and reliably,” said Matt Schatzman, chairman and CEO of NextDecade. “We look forward to continuing our collaboration with Baker Hughes as we progress our plans to make the Rio Grande LNG Facility one of the largest LNG production and export facilities in the world.”
“Baker Hughes is proud to continue our long-standing relationship with NextDecade, providing advanced gas technology solutions that enhance the efficiency and reliability of their LNG operations,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “This agreement is a further example of our commitment to delivering innovative solutions in support of increasing energy demand.”
NextDecade is making excellent progress on commercializing Rio Grande LNG Trains 4 and 5. The Company expects to make positive final investment decisions and commence construction on Trains 4 and 5 and related infrastructure at the Rio Grande LNG Facility, subject to, among other things, maintaining requisite governmental approvals, finalizing and entering into EPC contracts, entering into appropriate commercial arrangements, and obtaining adequate financing to construct each train and related infrastructure.
NextDecade is developing and beginning the permitting process for Trains 6 through 8, which are wholly owned by NextDecade and are cumulatively expected to increase the company's total liquefaction capacity by approximately 18 million tonnes per annum once constructed and placed into operation.
Baker Hughes expects orders, in relation to this agreement, as NextDecade’s project progresses.
“Utilizing Baker Hughes’ industry-leading rotating equipment and their maintenance services is critical to ensuring the Rio Grande LNG Facility operates efficiently and reliably,” said Matt Schatzman, chairman and CEO of NextDecade. “We look forward to continuing our collaboration with Baker Hughes as we progress our plans to make the Rio Grande LNG Facility one of the largest LNG production and export facilities in the world.”
“Baker Hughes is proud to continue our long-standing relationship with NextDecade, providing advanced gas technology solutions that enhance the efficiency and reliability of their LNG operations,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “This agreement is a further example of our commitment to delivering innovative solutions in support of increasing energy demand.”
NextDecade is making excellent progress on commercializing Rio Grande LNG Trains 4 and 5. The Company expects to make positive final investment decisions and commence construction on Trains 4 and 5 and related infrastructure at the Rio Grande LNG Facility, subject to, among other things, maintaining requisite governmental approvals, finalizing and entering into EPC contracts, entering into appropriate commercial arrangements, and obtaining adequate financing to construct each train and related infrastructure.
NextDecade is developing and beginning the permitting process for Trains 6 through 8, which are wholly owned by NextDecade and are cumulatively expected to increase the company's total liquefaction capacity by approximately 18 million tonnes per annum once constructed and placed into operation.
Baker Hughes expects orders, in relation to this agreement, as NextDecade’s project progresses.
Thursday, 13 March 2025
Centrica signs Brazilian LNG supply agreement
Centrica announces that it has entered into a major Sale and Purchase Agreement (“SPA”) with Petrobras, the leading Brazilian integrated oil & gas company.
The contract provides for the purchase by Petrobras of 0.8 million tons per annum (MTPA) of LNG for 15 years, commencing in 2027. The agreement comprises approximately 30% of Centrica’s US portfolio and will be sourced from Centrica’s Sabine Pass and Delfin supply agreements.
This new partnership underscores Centrica’s commitment to deliver secure and sustainable energy solutions in the transition to a lower carbon future. The agreement marks a significant step in expanding Centrica’s global LNG business, diversifying the locations it can deliver LNG to and supporting energy security in Brazil with an important new long-term partner.
Commenting on the agreement, Chris O’Shea, Centrica Group Chief Executive, said: “Centrica is investing to deliver the energy security, efficiency and decarbonisation solutions our customers need today and in the future, and LNG is, and will continue to be, a crucial foundation of the energy transition. This agreement demonstrates our approach to building long-term partnerships while derisking our portfolio exposure in the medium-term, in turn positioning us to continue growing our portfolio as new LNG supply comes into the market over the coming years.”
Petrobras' Director of Energy Transition and Sustainability, Maurício Tolmasquim, said: “The agreement with Centrica is aligned with Petrobras' priorities to reduce its exposure to the spot market volatility, increase its competitiveness and be the best option for its customers. We also consider the contribution of this important product to promoting the energy transition."
The contract provides for the purchase by Petrobras of 0.8 million tons per annum (MTPA) of LNG for 15 years, commencing in 2027. The agreement comprises approximately 30% of Centrica’s US portfolio and will be sourced from Centrica’s Sabine Pass and Delfin supply agreements.
This new partnership underscores Centrica’s commitment to deliver secure and sustainable energy solutions in the transition to a lower carbon future. The agreement marks a significant step in expanding Centrica’s global LNG business, diversifying the locations it can deliver LNG to and supporting energy security in Brazil with an important new long-term partner.
Commenting on the agreement, Chris O’Shea, Centrica Group Chief Executive, said: “Centrica is investing to deliver the energy security, efficiency and decarbonisation solutions our customers need today and in the future, and LNG is, and will continue to be, a crucial foundation of the energy transition. This agreement demonstrates our approach to building long-term partnerships while derisking our portfolio exposure in the medium-term, in turn positioning us to continue growing our portfolio as new LNG supply comes into the market over the coming years.”
Petrobras' Director of Energy Transition and Sustainability, Maurício Tolmasquim, said: “The agreement with Centrica is aligned with Petrobras' priorities to reduce its exposure to the spot market volatility, increase its competitiveness and be the best option for its customers. We also consider the contribution of this important product to promoting the energy transition."
Venture Global Announces Major Brownfield Expansion of Plaquemines LNG
Today, Venture Global (NYSE: VG) announced plans for a brownfield expansion at its Plaquemines LNG facility south of New Orleans, Louisiana. Joining Venture Global for the announcement was Secretary of Energy Chris Wright, Secretary of the Interior Doug Burgum, Louisiana Governor Jeff Landry and other federal, state and local officials and stakeholders. The planned Plaquemines expansion will consist of 24 trains and would represent an approximately $18 billion additional investment in the State of Louisiana, bringing Venture Global’s total investment in our current and planned US projects to over $75 billion.
Plaquemines LNG, approved during President Trump’s first term, is the newest LNG export facility to come online in the United States and is expected to produce approximately 27 million tonnes per annum (MTPA). Today, Venture Global is announcing that it will expand that capacity by over 18 MTPA, bringing the expected total production capacity to over 45 MTPA at Plaquemines.
“Our planned expansion of Plaquemines will make it the largest LNG export facility built in North America, supplying LNG to our allies while making a substantial impact on the U.S. balance of trade,” said Venture Global CEO Mike Sabel. “We believe this flexible incremental capacity will position us to respond rapidly to market growth signals. In a capital-intensive commodity industry, capital will always flow to the most competitive projects, and we believe that an expansion of Plaquemines is one of the most economically efficient opportunities available to quickly meet growing LNG demand. We are grateful for the Trump Administration’s commitment to building out our nation’s critical energy infrastructure. We believe this will be the best regulatory environment in decades.”
With this expansion, Plaquemines LNG will continue to support hundreds of new, permanent Louisiana jobs and tens of thousands of indirect subcontractor, part-time and full-time jobs throughout Louisiana and over 30 other states across the country. At peak construction, Plaquemines supports thousands of direct construction jobs. Venture Global expects a Final Investment Decision on the expansion to follow first production at CP2.
Plaquemines LNG, approved during President Trump’s first term, is the newest LNG export facility to come online in the United States and is expected to produce approximately 27 million tonnes per annum (MTPA). Today, Venture Global is announcing that it will expand that capacity by over 18 MTPA, bringing the expected total production capacity to over 45 MTPA at Plaquemines.
“Our planned expansion of Plaquemines will make it the largest LNG export facility built in North America, supplying LNG to our allies while making a substantial impact on the U.S. balance of trade,” said Venture Global CEO Mike Sabel. “We believe this flexible incremental capacity will position us to respond rapidly to market growth signals. In a capital-intensive commodity industry, capital will always flow to the most competitive projects, and we believe that an expansion of Plaquemines is one of the most economically efficient opportunities available to quickly meet growing LNG demand. We are grateful for the Trump Administration’s commitment to building out our nation’s critical energy infrastructure. We believe this will be the best regulatory environment in decades.”
With this expansion, Plaquemines LNG will continue to support hundreds of new, permanent Louisiana jobs and tens of thousands of indirect subcontractor, part-time and full-time jobs throughout Louisiana and over 30 other states across the country. At peak construction, Plaquemines supports thousands of direct construction jobs. Venture Global expects a Final Investment Decision on the expansion to follow first production at CP2.
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