{"id":781742,"date":"2023-09-04T21:03:29","date_gmt":"2023-09-05T01:03:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/"},"modified":"2023-09-04T21:03:29","modified_gmt":"2023-09-05T01:03:29","slug":"baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/","title":{"rendered":"Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan"},"content":{"rendered":"<div class=\"mw_release\">\n<ul type=\"disc\">\n<li>\n          <em>Long-term expansion plan will increase Venture Global\u2019s production to more than 100 MTPA across its current and future projects both in and outside of Louisiana<\/em><br \/>\n          \n        <\/li>\n<\/ul>\n<p>SINGAPORE, Sept.  04, 2023  (GLOBE NEWSWIRE) &#8212; Today, Venture Global LNG announced its long-term expansion plan to increase production from 70 million tonnes per annum (MTPA) to more than 100 MTPA of nameplate LNG export capacity. To support this initiative, Venture Global and Baker Hughes have executed an expanded master equipment supply agreement for the delivery of additional liquefaction train systems and power island systems for Venture Global\u2019s future LNG export projects. The expanded agreement was announced on the margins of Gastech in Singapore in the presence of Venture Global CEO Mike Sabel and Baker Hughes Chairman and CEO Lorenzo Simonelli.<\/p>\n<p>Venture Global continues to execute and achieve major milestones at each of its projects. Cargoes originating from its Calcasieu Pass project have been delivered to\u00a024\u00a0countries and\u00a0accounted for approximately 10% of the LNG exported from the United States to Europe in 2022 and 2023.\u00a0Venture Global has taken FID on both phases of its 20.0 MTPA nameplate Plaquemines LNG facility, which is on target to produce first LNG in 2024.\u00a0By early September, Plaquemines LNG will have received the first four liquefaction train modules (Blocks 1 and 2) and the roof will be raised on its third LNG storage tank.\u00a0The company expects to commence construction of its CP2 LNG facility later this year following receipt of FERC authorization. To date, 9.25 MTPA of CP2 LNG\u2019s 20.0 MTPA nameplate capacity has been sold under 20-year sales and purchase agreements.\u00a0Baker Hughes, as a strategic LNG-equipment supplier to Venture Global, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=4RrBDzOXIbmfB3oT9wbp4zzb0MaPQc77UV-etSnJCp6F-Vy1bNn4rxEVbeuSJUCrIUxHrO4D_OyFwLAvvqx3i7KhYCGCyL9VfTLmJUHYFSYWvQS8Pv0VKbr7x4tMDRCP2MYXxitkRlq1fMeZJ7DnDNLAFYFiefQhEyAAGd7JyP3PyA3eCKGFLZUgUb4WZW4NunTvmxtp21ybsJZZ-4KdjhQy_PDDf3u2hOZGiKzo4SE=\" rel=\"nofollow noopener\" target=\"_blank\">provided comprehensive<\/a> LNG technology solutions to the Calcasieu Pass LNG facilities, and will provide the same to the currently under-construction Plaquemines LNG facility.<\/p>\n<p>\u201cVenture 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 \u2013 Calcasieu Pass, Plaquemines LNG and CP2 LNG,\u201d\u00a0said Mike Sabel, CEO of Venture Global.\u00a0\u201cNow more than ever we are committed to our mission of delivering low-cost LNG at a larger scale to support the world\u2019s 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.\u201d\u00a0<\/p>\n<p>\u201cNatural 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,\u201d said Lorenzo Simonelli, chairman and CEO of Baker Hughes. \u201cBuilding 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.\u201d<\/p>\n<p>\n        <strong><br \/>\n          <u>About Venture Global LNG<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global\u2019s first facility, Calcasieu Pass, commenced LNG production in January 2022. The company\u2019s second facility, Plaquemines LNG, is under construction and expected to produce first LNG in 2024. Venture Global is also constructing or developing over 70 MTPA of additional production capacity to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.<\/p>\n<p>\n        <strong><br \/>\n          <u>About Baker Hughes<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward \u2013 making it safer, cleaner and more efficient for people and the planet. Visit us at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KRdpbRlekBjKhYPP2PS6PHCYUwPr9T0Ok4BS-rFPEEWmaTXHOR3yMe1R3KH7OenZjRYFDcBnvoYExUMrNoSJP_9yFhuDDj457-hO12MpMR-oSpMmJDYm90eW89SGGUkTtQQ7w0PjtD9YfsX89qAqLYFbV41tagDKQiFbk03Nj2y8f6rXg4TNwVpvJG3sYffY_bDoejrGjCMBnJ7b90m1O8U_CeBvkO9nKBtyRgdTzAXgWIvdv9NFDmHHA-B9TcLwecnKR961_lIqJGeMMsQUWT3FDuPMfZebyd1Mzh0FIvfgX86-AZ4IAvCksMrH3y4AIPUE02hKh6X46qokrmU9HQ==\" rel=\"nofollow noopener\" target=\"_blank\"><u>bakerhughes.com.\u00a0<\/u><\/a><\/p>\n<p>\n        <strong><br \/>\n          <u>For more information, please contact:<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>\n        <strong>Media Relations <\/strong>\n      <\/p>\n<p>Venture Global Media Relations:<br \/>Shaylyn Hynes<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=5lGdwoEtxa7RgNlZAzGfuTX9_0jcJeJxNisYJ53ruEUxFQWF7HUiQKW9MvzSCFqg4m8PFQhMtQzfMA0d-2hisQ==\" rel=\"nofollow noopener\" target=\"_blank\">shynes@vglng.com<\/a><\/p>\n<p>Baker Hughes Media Relations:<br \/>Chiara Toniato<br \/>+39 3463823419<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KAG2FQbbOaat3JP9qcMTWpoTQAR4Vm43xt0KKGML1stW5SIK7aDrKDqEs4dDqUIPC3nMbDjyC5EXYEgcQmlukC3U-BlI23LXP8GKSRfUwTSqe4RitjgASOUhSb2sYZl_\" rel=\"nofollow noopener\" target=\"_blank\">chiara.toniato@bakerhughes.com<\/a><\/p>\n<p>\n        <strong>Investor Relations: <\/strong>\n      <\/p>\n<p>Baker Hughes Investors Relations:<br \/>Chase Mulvehill<br \/>+1 281-809-9088<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MFyics78KjD1kL4rKXQBSI7fjDcD8dT5LOGv8axNGZRAmA_1nYkAi-vWB0SuM0mczRf6bd_ks08PmWEvCsU0vxVWozX7X6ERzlvqxaQBgZmvuC6EbWjyTTA-7jwf5yznxhIqtNZOROlNNDw8IsXP1Q==\" rel=\"nofollow noopener\" target=\"_blank\">investor.relations@bakerhughes.com<\/a><\/p>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kRl1AAmZq-11BiIDmckgDAkJa4NwJqO9FLNzFf-zfX9Jaa7Hc4h1LAXhzHmA-mJBDypgMrteWcwxwuObvlN0njYwh1u85bkWCizhm3VP2F4ffVkvtDAcnh7XYb9ba7ykYSme6eUClzB7gqYZmlMaL5o9Gsh9dEWb1qljQD9BkzSRLt1iHBJtHXTxVQgJDhh7-Vrg3Q1pkfKMIFfzHhLKCMwVpdBmUgjC3Tq1Wp0NrIK917cwzai6n9Kz5VmKUto7naIi5ix2eALsZWX-p04rYg==\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/ea9eaa0a-97c3-466d-bac3-6caedc7dcf0a<\/a>.<\/p>\n<p>\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkxNjE2NyM1Nzk3NDIwIzIwMDU2NDA=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MDQxMTM0NDUtNzBmMC00MWVmLTlmNWUtNTBjNTUyMTZmYTg3LTEwMTcyMTM=\/tiny\/Baker-Hughes-Energy-Services-L.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Long-term expansion plan will increase Venture Global\u2019s production to more than 100 MTPA across its current and future projects both in and outside of Louisiana SINGAPORE, Sept. 04, 2023 (GLOBE NEWSWIRE) &#8212; Today, Venture Global LNG announced its long-term expansion plan to increase production from 70 million tonnes per annum (MTPA) to more than 100 MTPA of nameplate LNG export capacity. To support this initiative, Venture Global and Baker Hughes have executed an expanded master equipment supply agreement for the delivery of additional liquefaction train systems and power island systems for Venture Global\u2019s future LNG export projects. The expanded agreement was announced on the margins of Gastech in Singapore in the presence of Venture Global CEO Mike Sabel and Baker &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-781742","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Long-term expansion plan will increase Venture Global\u2019s production to more than 100 MTPA across its current and future projects both in and outside of Louisiana SINGAPORE, Sept. 04, 2023 (GLOBE NEWSWIRE) &#8212; Today, Venture Global LNG announced its long-term expansion plan to increase production from 70 million tonnes per annum (MTPA) to more than 100 MTPA of nameplate LNG export capacity. To support this initiative, Venture Global and Baker Hughes have executed an expanded master equipment supply agreement for the delivery of additional liquefaction train systems and power island systems for Venture Global\u2019s future LNG export projects. The expanded agreement was announced on the margins of Gastech in Singapore in the presence of Venture Global CEO Mike Sabel and Baker &hellip; Continue reading &quot;Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-05T01:03:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkxNjE2NyM1Nzk3NDIwIzIwMDU2NDA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan\",\"datePublished\":\"2023-09-05T01:03:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\\\/\"},\"wordCount\":715,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODkxNjE2NyM1Nzk3NDIwIzIwMDU2NDA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\\\/\",\"name\":\"Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/","og_locale":"en_US","og_type":"article","og_title":"Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan - Market Newsdesk","og_description":"Long-term expansion plan will increase Venture Global\u2019s production to more than 100 MTPA across its current and future projects both in and outside of Louisiana SINGAPORE, Sept. 04, 2023 (GLOBE NEWSWIRE) &#8212; Today, Venture Global LNG announced its long-term expansion plan to increase production from 70 million tonnes per annum (MTPA) to more than 100 MTPA of nameplate LNG export capacity. To support this initiative, Venture Global and Baker Hughes have executed an expanded master equipment supply agreement for the delivery of additional liquefaction train systems and power island systems for Venture Global\u2019s future LNG export projects. The expanded agreement was announced on the margins of Gastech in Singapore in the presence of Venture Global CEO Mike Sabel and Baker &hellip; Continue reading \"Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/","og_site_name":"Market Newsdesk","article_published_time":"2023-09-05T01:03:29+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkxNjE2NyM1Nzk3NDIwIzIwMDU2NDA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan","datePublished":"2023-09-05T01:03:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/"},"wordCount":715,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkxNjE2NyM1Nzk3NDIwIzIwMDU2NDA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/baker-hughes-and-venture-global-announce-expanded-master-equipment-supply-agreement-to-support-venture-globals-long-term-expansion-plan\/","name":"Baker Hughes and Venture Global Announce Expanded Master Equipment Supply Agreement to Support Venture Global\u2019s Long-Term Expansion Plan - 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