LNG Producer Venture Global Expands Supply Agreement With Baker Hughes
Portfolio Pulse from Shivani Kumaresan
Venture Global LNG and Baker Hughes Company (NASDAQ:BKR) have expanded their master equipment supply agreement for additional liquefaction train systems and power island systems for Venture Global's future LNG export projects. This aligns with Venture Global's plan to increase production from 70MTPA to over 100MTPA. Baker Hughes, which recently reported a 2Q FY23 revenue increase of 25.1% YoY to $6.32 billion, will provide the same technology solutions it supplied to the Calcasieu Pass LNG facilities to the under-construction Plaquemines LNG facility.
September 05, 2023 | 9:46 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Baker Hughes (NASDAQ:BKR) has expanded its supply agreement with Venture Global LNG, which aligns with the latter's expansion plans. Baker Hughes recently reported a 25.1% YoY increase in 2Q FY23 revenue to $6.32 billion.
The expanded agreement with Venture Global LNG is likely to provide Baker Hughes with increased business opportunities, which could positively impact its revenues and profitability. The company's recent financial performance, with a 25.1% YoY increase in 2Q FY23 revenue, also indicates a positive trend. This news is highly relevant to Baker Hughes as it directly involves the company's business operations and financial performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100