Baker Hughes (BKR), a leading company in energy technology, announced on Monday its selection by Argent LNG LLC to provide liquefaction technology and related services for Argent's proposed liquefied natural gas (LNG) export facility in Port Fourchon, Louisiana.
This ambitious project will leverage Baker Hughes' cutting-edge LNG technology, particularly its modular systems equipped with LM9000 gas turbines, ensuring efficient and reliable production processes. Furthermore, the facility will integrate digital solutions to enhance operational performance, and Baker Hughes will also deliver power generation equipment and offer long-term support services for the Argent LNG terminal.
Baker Hughes is set to deliver state-of-the-art liquefaction technology, power generation solutions, and gas compression systems, all contributing to the facility’s goal of producing approximately 24 million tonnes of LNG annually.
As per the announcement, Baker Hughes will contribute to improving project execution, establishing a cost-effective and efficient design, thereby allowing Argent LNG to advance with increased efficiency and financial robustness.
The company expects to receive orders as the project moves forward, particularly as it reaches its Final Investment Decision.
The commencement of Phase 1 construction is projected for 2026, with commercial operations anticipated by 2030. Phase 2 aims at expanding capacity and is currently undergoing essential processes such as resource reporting, gaining FERC approvals, finalizing gas supply contracts, and securing necessary financing.
On Friday, Baker Hughes' shares concluded the trading day with a 3.54% increase, closing at $46.18 on the Nasdaq.
