Baker Hughes, Venture Global Sign Equipment Supply Agreement for Expansion Plan

Baker Hughes and Venture Global LNG have entered into an expanded master equipment supply agreement to deliver liquefaction train systems and power island systems for Venture Global’s future LNG projects. The long-term expansion plan for Venture Global is to increase LNG production from 70 million tonnes per annum (MTPA) to more than 100 MTPA in export capacity, and it will be supported with LNG assets from Baker Hughes.

“Venture Global is thrilled to announce our long-term plan to expand LNG production both in and outside of Louisiana, building on the momentum of our first three projects – Calcasieu Pass, Plaquemines LNG and CP2 LNG,” said Mike Sabel, CEO of Venture Global. “Now more than ever we are committed to our mission of delivering low-cost LNG at a larger scale to support the world’s growing demand for energy security, prosperity, and environmental progress. We are grateful for our continued partnership with Baker Hughes, a world leader in energy technology, and look forward to building on our successful collaboration in our upcoming projects.”

Venture Global’s Plaquemines LNG facility is on target to commence LNG production in 2024, following the completion of FIDs filed for both phases of the 20 MTPA project. Four liquefaction train models (Blocks 1and 2) and a third LNG storage tank are expected to be delivered to Plaquemines by early September.

The company’s CP2 LNG facility will undergo construction later this year, pending the receipt of FERC authorization. Venture Global has sold 9.25 of CP2’s 20 MTPA capacity through a series of 20-year sales and purchase agreements. Baker Hughes serves as an LNG equipment supplier to Venture Global LNG facilities in the Calcasieu Pass and will service the Plaquemines LNG plant with equipment delivery prior to its operation.

“Natural gas will continue to play a critical role as a bridging and destination fuel for the energy transition. We are proud of our longstanding collaboration with Venture Global LNG and continue to support their plan to expand LNG production to address global energy demand,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Building on our positive track record for the Calcasieu Pass and Plaquemines LNG projects, we look forward providing VG with our proven technology solutions to enable faster time to LNG, a key advantage to our modular LNG design.”