Baker Hughes and Partners Aim to Unlock Venezuela’s Natural Gas Potential

Baker Hughes has partnered with PDVSA, Lindsayca, and Fulcrum LNG to revitalize Venezuela's natural gas infrastructure and establish the country's first liquefied natural gas (LNG) export capabilities. The alliance aims to develop an integrated gas value chain that connects upstream resource development, midstream infrastructure, and LNG commercialization, unlocking Venezuela's significant natural gas potential.

Lorenzo Simonelli, Chairman and CEO of Baker Hughes, highlighted the objective of transforming Venezuela's natural gas resources into reliable domestic supply and future export opportunities. The collaboration combines Baker Hughes' energy solutions, Lindsayca's engineering capabilities, and Fulcrum LNG's project development expertise to support gas production and infrastructure upgrades.

Jesus Bronchalo, CEO of Fulcrum LNG, emphasized the strategic alliance as a historic opportunity to maximize the use of Venezuela's natural gas resources. The alliance will focus on identifying and executing infrastructure developments to meet domestic gas requirements and pursue opportunities to supply natural gas to the domestic market for reliable power generation.

The collaboration will also evaluate the development and financing of new midstream and LNG infrastructure to position Venezuela as a key player in the global gas and LNG industry. However, any specific project will be subject to separate definitive agreements, internal approvals, and applicable U.S. sanctions and export control requirements.