Baker Hughes Secures Major LNG Equipment Order for Louisiana Project

Baker Hughes Company (BKR), a leading energy technology company, announced a pivotal contract win to supply advanced liquefaction equipment for Woodside Energy Group’s Louisiana LNG project. The contract is awarded by Bechtel Energy Inc. and includes the technology supply for two liquefaction plants, marking a critical step in Phase 1 of the project.The scope of the order includes eight main refrigeration compressors powered by Baker Hughes’ LM6000PF+ gas turbines and eight expander compressors. The equipment is integral to supporting the two plants, which will collectively contribute approximately 11 million tons per annum (MTPA) of liquefied natural gas production under Phase 1.This development is part of Woodside's broader Louisiana LNG export initiative, which has a permitted capacity of 27.6 MTPA. The project targets final investment decision (FID) readiness by the first quarter of 2025.Baker Hughes, with over 40 years of LNG expertise, has established collaborations with both Bechtel and Woodside. Paul Marsden, president of Bechtel Energy, has highlighted the significant role that Louisiana LNG will play in addressing the world’s rising LNG demand, expressing pride in collaborating with Baker Hughes on this essential project.Similarly, Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes, highlighted the company's dedication to supporting the LNG industry's readiness to meet the growing energy needs through its proven technology. He noted that the partnership strengthens existing relationships and promotes sustainable energy progress.This latest contract builds upon Baker Hughes’ earlier involvement in the project. The company was previously selected to supply electric-powered Integrated Compressor Line packages and other turbomachinery equipment for the pipeline associated with the LNG export terminal.Baker Hughes’ contributions reinforce its position as a trusted partner in advancing LNG infrastructure, driving energy security and supporting the global transition to sustainable energy.BKR’s Zacks Rank & Key PicksCurrently, Baker Hughes carries a Zacks Rank #3 (Hold).Investors interested in the energy sector may look at some better-ranked stocks like TechnipFMC plc FTI, Oceaneering International, Inc. OII and Nine Energy Service NINE. While TechnipFMC presently sports a Zacks Rank #1 (Strong Buy), Oceaneering and Nine Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. It focuses on the subsea segment in offshore basins worldwide. FTI’s growing backlog ensures strong revenue visibility and supports margin improvements.Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability.Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position the company for growth in the long run.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TechnipFMC plc (FTI): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis Report Baker Hughes Company (BKR): Free Stock Analysis Report Nine Energy Service, Inc. (NINE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks