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Argent LNG Selects Baker Hughes as Technology Provider, Strengthening Project

1. Baker Hughes selected for Argent LNG's liquefaction solutions in Louisiana. 2. Projected capacity: 24 million tonnes per annum of LNG production. 3. Partnership emphasizes Baker Hughes' cutting-edge technology and expertise. 4. Phase 1 construction begins in 2026, aiming operations by 2030. 5. Collaboration strengthens project bankability and energy security.

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Why Bullish?

This agreement may increase BKR's revenue stream from LNG solutions, enhancing market confidence.

How important is it?

The collaboration may validate BKR’s market position, impacting stock value positively in future.

Why Long Term?

The project's timeline indicates a positive long-term growth potential for BKR as operations commence.

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LNGNMBLLM9000
Baker Hughes to supply liquefaction solutions utilizing NMBL™ module and LM9000 gas turbineAgreement also comprises a multi-year services plan, including iCenter™ digital solutions powered by Cordant™, to support Argent LNG terminal operationsProposed project targets approximately 24 million tonnes per annum (MTPA) of production capacity FLORENCE, Italy, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Argent LNG LCC (Argent LNG) has selected Baker Hughes (NASDAQ: BKR), an energy technology company, as the liquefaction solution and related services provider for its proposed liquified natural gas (LNG) export facility in Port Fourchon, Louisiana. Baker Hughes will supply cutting-edge liquefaction solutions, power generation equipment, and gas compression systems for the facility, which is set to deliver approximately 24 million tonnes per annum (MTPA) of LNG. The announcement was made during Baker Hughes’ Annual Meeting in Florence. The project will incorporate Baker Hughes’ advanced technologies, including its NMBL™ modularized LNG solution powered by the highly efficient LM9000 gas turbine. These modules, pre-fabricated and tested at Baker Hughes’ facilities, will ensure scalable and reliable LNG production to the project and integrate iCenter™ digital solutions powered by Cordant™ to maximize availability, reliability, and operational efficiency. Baker Hughes will also provide power generation units driven by LM9000 gas turbines and provide multi-year services to support Argent LNG terminal operations. By leveraging its extensive knowledge and experience in LNG development, Baker Hughes will help optimize project execution, and ensure a streamlined, cost-effective design, allowing Argent LNG to move forward with greater efficiency and financial certainty. “Today’s announcement is a further testament to the technology capabilities that we have built over the past 30-plus years in LNG. This collaboration with Argent LNG underscores our commitment to delivering advanced, best-in-class LNG solutions,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “As global energy demand continues to grow, we are committed to providing innovative technology solutions to the LNG industry, a key supplier of reliable and affordable energy to many countries around the world.” “We chose Baker Hughes because of their proven cutting-edge technology, established LNG market presence, and commitment to innovation — all of which align perfectly with Argent LNG’s vision to provide transformative energy solutions,” said Jonathan Bass, chairman and CEO of Argent LNG. “This collaboration underscores Argent LNG’s commitment to technical excellence, cost-effective execution, and energy security, while also strengthening the project’s bankability by leveraging Baker Hughes’ proven expertise and industry leadership. Today’s announcement demonstrates how innovation and collaboration can drive progress in the LNG industry, helping to secure affordable, sustainable energy for global markets.” Phase 1 construction is targeted to begin in 2026, with commercial operations expected by 2030. Phase 2, which aims to expand capacity, is advancing through critical milestones, including resource reporting, securing FERC approvals, formalizing gas supply agreements, and achieving financial close. Baker Hughes expects orders in relation to this agreement, as the Argent LNG project progresses and reaches Final Investment Decision, further solidifying its key role in Argent LNG’s long-term success. About Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com. About Argent LNGArgent LNG LLC is a privately held energy company dedicated to developing world-class LNG export solutions to meet the rising global demand for clean, reliable energy. Based in Louisiana, Argent LNG is focused on leveraging cutting-edge technologies and strategic partnerships to deliver cost-effective, sustainable, and efficient energy solutions. The company’s proposed export facility at Port Fourchon is designed to strengthen energy security and economic growth while reinforcing the United States’ leadership in the global LNG market. For more information, please contact: Media Relations Chiara Toniato+39 3463823419chiara.toniato@bakerhughes.com Investor Relations Chase Mulvehill+1 346-297-2561investor.relations@bakerhughes.com

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