Baker Hughes Partners to Boost Venezuela’s Energy Infrastructure

Baker Hughes has taken significant steps to revitalize Venezuela’s energy sector through two key agreements. The first is a strategic alliance with Petróleos de Venezuela S.A. (PDVSA), Lindsayca, and Fulcrum LNG Inc. to enhance the country’s natural gas infrastructure. The second is a memorandum of understanding (MOU) with New Stratus Energy Inc. to support future oil and gas prospects.

The alliance with PDVSA aims to develop an integrated gas value chain, transforming Venezuela’s natural gas resources into reliable domestic supply and potential export opportunities, including liquefied natural gas (LNG). Lorenzo Simonelli, CEO of Baker Hughes, emphasized the potential for Venezuela to become a major player in the global energy landscape.

Jesus Bronchalo, CEO of Fulcrum LNG, highlighted the near-term focus on meeting internal gas requirements and supplying natural gas for domestic power generation. The long-term goal includes developing new midstream and LNG infrastructure to monetize gas and position Venezuela as a key player in the global gas and LNG industry.

The collaboration will combine Baker Hughes’ energy solutions, Lindsayca’s engineering capabilities, and Fulcrum’s expertise in project development and financing. The projects are subject to internal approvals and compliance with US sanctions and export-control requirements.

Under the MOU with New Stratus Energy, Baker Hughes will support the development of future oil and gas prospects using its portfolio of technologies. Baker Hughes has a long-standing presence in Venezuela, with over 1,200 oil production systems and significant infrastructure installed in the country.