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Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG

1. Baker Hughes awarded contract for LNG systems to Venture Global. 2. Multi-year services agreement supports Plaquemines LNG project phases 1 and 2. 3. Baker Hughes to help deliver over 100 MTPA production capacity. 4. First LNG cargo successfully loaded from Plaquemines facility.

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FAQ

Why Very Bullish?

This contract enhances BKR's growth potential and revenue stream. Previous large contracts notably influenced stock price positively.

How important is it?

This development directly involves BKR's core LNG solutions, impacting its market position. The increasing demand for LNG reflects positively on Baker Hughes' future prospects.

Why Long Term?

The multi-year contract secures ongoing revenue, supporting long-term financial outlook. Historical contracts have contributed to sustained increases in BKR's value.

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Baker Hughes to supply power island and liquefaction train systems, and signs multi-year services frame agreement to support phases 1 and 2 of Plaquemines LNG projectAs a strategic LNG solutions supplier, Baker Hughes to help Venture Global deliver 100+ MTPA of production capacity HOUSTON and LONDON, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday that it has been awarded a major contract to provide a modularized liquefied natural gas (LNG) system and power island to support Venture Global (VG) LNG projects in the United States. In addition, Baker Hughes signed a multi-year services frame agreement, including maintenance, inspection, repairs and engineering services, to support phases 1 and 2 of VG’s Plaquemines LNG project in Louisiana. The equipment order and services agreement were both secured in the fourth quarter of 2024. “As power demand surges, LNG has a critical role to play in providing a reliable, flexible fuel source that can be quickly scaled to meet rising demand,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “We have been a trusted partner in natural gas operations for more than 30 years, and our collaboration with Venture Global is a key example of what our industry needs more of today: businesses coming together to leverage best-in-class technologies and services that can deliver reliable and efficient natural gas operations to support sustainable energy development.” “Baker Hughes continues to be a trusted partner for Venture Global in delivering a secure, reliable energy supply to the world and we are thrilled to add another significant milestone on our partnership,” said Mike Sabel, CEO of Venture Global. Baker Hughes, as a strategic LNG technology supplier to Venture Global for more than 100 million tons per annum (MTPA) of production capacity, has already provided comprehensive LNG solutions to the Calcasieu Pass and Plaquemines LNG facilities. Recently, Venture Global announced the successful loading and departure of the first liquefied natural gas (LNG) cargo produced from its Plaquemines LNG facility, after reaching first LNG production. 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. For more information, please contact: Media Relations Chiara Toniato+39 3463823419chiara.toniato@bakerhughes.com Investor Relations Chase Mulvehill+1 281-809-9088investor.relations@bakerhughes.com

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