Oilfield services provider Baker Hughes said on Thursday it has signed an agreement with Venture Global to support its liquefied natural gas (LNG) projects in the United States with technology and equipment.

As power demand surges, LNG has a critical role to play in providing a reliable, flexible fuel source that can be quickly scaled to meet rising demand', Baker Hughes Chairman and CEO Lorenzo Simonelli said.

The energy company is a major LNG technology supplier to Venture Global, supporting more than 100mtpa of production capacity.

Energy technology company Baker Hughes has signed a major contract to provide modularized liquefied natural gas (LNG) system

Q4 2024 Management View Lorenzo Simonelli, Chairman and CEO, highlighted that Baker Hughes exceeded the midpoint of its EBITDA guidance for the eighth consecutive quarter. He noted record-breaking results for revenue,

U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Thursday, as robust demand for natural gas equipment and services helped offset weak sales of its drilling gear in North America.

Baker Hughes (NASDAQ:BKR) closed +3.5% on Thursday after raising its quarterly dividend to $0.23/share from $0.21/share and announcing two significant contracts. The company said it was awarded an order by Tecnicas Reunidas to supply six gas compression trains and six propane compressors for the third expansion phase of Saudi Aramco's Jafurah gas