Baker Hughes Annual Meeting 2025 Sets the Stage for ‘Sustainable Energy Development’

The 25^th edition of Baker Hughes Annual Meeting, held Feb. 2 – 4, 2025, kicked off yesterday morning at the Opera Theater in Florence, Italy. With 2,300 industry experts and thought leaders in oil and gas, the event hosts technological innovations and solutions, industry-leading discussions, and more.

Yesterday, attendees immersed themselves in the Solutions Fair, where physical solutions were showcased, and SMEs were available to educate and inform. This morning, Lorenzo Simonelli, Chairman and CEO of Baker Hughes, delivered the opening keynote. He reflected on the Annual Meeting’s theme, Progress at Scale, "highlighting the need to replicate and scale technology innovations and solutions for cleaner, more efficient industries; scale how we build and integrate solutions with digital as our lens, our language, and our path to a sustainable future; and scale how we establish and leverage partnerships to energize change across the energy ecosystem."

Lorenzo Simonelli, Chairman and CEO of Baker Hughes; credit: Baker Hughes

2024 Results

The meeting begins after the company announced on Thursday, Jan. 30, its 2024 and quarter-four results. Its fourth-quarter highlights include:

• $7.5 billion in orders, including $3.8 billion of Industrial and Energy Technology (IET) orders
• Remaining Performance Obligations (RPO) of $33.1 billion, including IET RPO of $30.1 billion
• Revenue of $7.4 billion, up 8% year-over-year

"IET booked $3.8 billion of orders in the fourth quarter, supported by strong LNG orders and another gas infrastructure award,” Simonelli said. “Including this strong end to the year, 2024 orders totaled $13 billion, the second-highest order year ever. This order performance highlights the end-market diversity and versatility of our portfolio.”

According to its press release, Gas Technology Services (GTS) booked several notable service and upgrade awards to backlog.

GTS:

• signed a long-term services agreement to support Phases 1 and 2 of Venture Global’s Plaquemines LNG project;
• signed a 25-year services agreement with a NextDecade affiliate to support its Rio Grande LNG facility;
• received an award from an energy operator to provide planned maintenance activities to assure reliability, availability, and efficiency of turbomachinery at its LNG facility in Asia Pacific; and
• booked multiple upgrade awards for gas infrastructure projects in the Middle East and Europe.

Baker Hughes Annual Meeting Schedule

The second keynote of opening day, LNG, Powering a Sustainable Future Through Innovation and Resilience, was led by Khalid bin Khalifa Al Thani, CEO of QatarEnergy LNG, and Arkadiy Dobkin, CEO, President and Chairman at EPAM Systems.

The two-day meeting schedule includes panel discussions, fireside chats, technological sessions, lightning talks, themed luncheons, and more.

Monday’s panel discussions and fireside chats include:

Panel discussions:

• Decarbonization at Scale: Pathways to Net-Zero in the Energy Sector, moderated by Renée Van Heusden, Head of Oil and Gas Industry of the World Economic Forum—speakers from Shell, ADNOC Onshore, Global Projects, and more
• Beyond Competition: Redefining Progress in Industry, moderated by Rita Lofano, Editor in Chief at AGI—speakers from Hydrogen Council, Wabtec Corp., NET Power, and more

Fireside chats:

• Innovation at Scale: Nasdaq's Transformation and Strategies for Growth
• Sustainable Energy Development at Scale - How Should Governments Balance the Energy Trilemma?

Tuesday’s panel discussions and fireside chats include:

Panel discussions:

• Powering Progress: Sustainable Energy Solutions Across Industries, moderated by Jon Moore, CEO of BloombergNEF—speakers from LanzaTech, Amazon Web Services, ADNOC Offshore, and more
• Scaling Digital Innovation and AI in the Energy and Industrial Sectors, moderated by Patricia Beccalli, Co-founder of Falco Global Partners—speakers from Accenture, Microsoft, Ode, Constellation Energy, and more
• Finance, Technology, Regulations, and Diplomacy: Strategies for Scaling Energy Infrastructure, moderated by Naser El Tibi, Senior Producer & Presenter of Al Arabiya—speakers from Trafigura, Aker Solutions, and more
• Who Wins in the Energy Transition? moderated by Ed Crooks, Vice-Chair, Americas of Wood Mackenzie—speakers from Resources for the Future, Syensqo, Woodside Energy, and more

Fireside chats:

• The Net Zero Financing Gap: Mobilizing Capital for a Sustainable Energy Future

Simonelli will deliver his closing remarks during the final keynote on Tuesday after lunch.

Attendees can also sign up for plant tours, where they get a behind-the-scenes look at how Baker Hughes enhances its manufacturing processes, drives innovation in its laboratories, and supports the transition to hydrogen and clean fuels. The tour explores new and existing technologies and details how AI optimizes its internal operations. Its gas turbines, NovaLT and Frame, are also on display inside one of its largest facilities.

Stay tuned for exclusive interviews, insights, and more later this week.