Baker Hughes Signs Major Venezuela Gas Infrastructure Deal

Baker Hughes has signed two agreements aimed at expanding Venezuela’s natural gas and energy infrastructure, including a partnership that could eventually pave the way for the country’s first LNG ...

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The oilfield services giant signed a strategic alliance with Venezuela's state-owned PDVSA, Lindsayca and Fulcrum LNG focused on restoring and expanding the country's natural gas infrastructure.

Initially, the partners will identify infrastructure upgrades needed to meet PDVSA's own gas requirements and increase supplies to Venezuela's domestic market, including natural gas used for electricity generation.

Over the longer term, however, the companies plan to evaluate and potentially finance new open-access midstream and LNG infrastructure.

Such projects could allow PDVSA and other Venezuelan producers to commercialize stranded gas resources and eventually export LNG.

Baker Hughes CEO Lorenzo Simonelli said a central goal was creating an integrated gas value chain capable of turning Venezuela's substantial resources into reliable domestic supplies and future export opportunities.

Baker Hughes will provide technology covering field development, gas infrastructure and LNG, while Lindsayca will contribute engineering, construction and operational capabilities.