Baker Hughes Inks New Supply Agreement, This Time For Driftwood LNG Project
Portfolio Pulse from Lekha Gupta
Baker Hughes Company (BKR) has signed a deal with Tellurian Inc (TELL) to supply eight main refrigerant compression packages for Phase 1 of the Driftwood LNG project. This follows a recent agreement with Venture Global LNG for additional liquefaction train systems and power island systems. Baker Hughes recently reported a 2Q FY23 revenue increase of 25.1% YoY to $6.32 billion, beating the consensus of $6.26 billion.
September 06, 2023 | 10:45 am
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POSITIVE IMPACT
Baker Hughes has secured a new supply agreement with Tellurian for the Driftwood LNG project, following a recent deal with Venture Global LNG. The company's 2Q FY23 revenue exceeded expectations.
The new supply agreement with Tellurian, along with the recent deal with Venture Global LNG, indicates a positive business expansion for Baker Hughes. The company's better-than-expected 2Q FY23 revenue also suggests strong financial performance, which could positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Tellurian has signed a deal with Baker Hughes for the supply of eight main refrigerant compression packages for Phase 1 of the Driftwood LNG project.
The supply agreement with Baker Hughes for the Driftwood LNG project is a positive development for Tellurian. This could potentially enhance the company's project execution and operational efficiency, which might have a positive impact on its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75