Baker Hughes Partners to Launch Venezuela’s First LNG Exports
Baker Hughes, a leading U.S.-based energy technology firm, has formed a strategic partnership with PDVSA, Lindsayca, and Fulcrum LNG to modernize Venezuela’s natural gas infrastructure and initiate the country’s first liquefied natural gas (LNG) exports. The collaboration involves a new agreement focused on restoring gas production infrastructure, along with a memorandum of understanding (MoU) with New Stratus Energy to advance future oil and gas prospects in Venezuela.
The alliance aims to create an integrated framework that links upstream resource development, midstream infrastructure, gas monetization, and LNG commercialization. This effort seeks to unlock Venezuela’s vast natural gas potential. Lorenzo Simonelli, Chairman and CEO of Baker Hughes, highlighted the goal of transforming Venezuela’s natural gas resources into reliable domestic supply and future export opportunities, including the potential to export the first LNG molecules produced in Venezuela.
Baker Hughes will contribute its expertise in oil and gas field development, gas infrastructure, and LNG solutions. Lindsayca will provide engineering, procurement, construction, and operational capabilities, while Fulcrum LNG will handle midstream and LNG project development, financing, and market access. Jesus Bronchalo, CEO of Fulcrum LNG, emphasized the historic opportunity to maximize the use and value of Venezuela’s natural gas resources, noting the alliance’s capabilities in developing fully integrated gas value chains.
In the near term, the partners will work with PDVSA to identify and execute necessary infrastructure developments and upgrades to meet internal gas requirements, while also pursuing opportunities to supply natural gas to the domestic market to support reliable power generation for Venezuela.