Baker Hughes Signs Two Agreements to Develop Venezuela's Natural Gas and Energy Infrastructure
Key Highlights
- ➤Baker Hughes signs alliance with PDVSA, Lindsayca and Fulcrum to revitalize Venezuela’s gas infrastructure
- ➤Baker Hughes signs MOU with New Stratus Energy to develop future Venezuelan oil and gas prospects
- ➤Agreements target upstream development, midstream infrastructure, gas monetization and LNG commercialization
- ➤Specific projects require definitive agreements, internal approvals and applicable U.S. sanctions authorizations
- ➤Alliance could enable Venezuela’s first LNG exports and expand domestic gas supply
Expert Statements
Lorenzo Simonelli, Chairman and CEO of Baker Hughes
“A central objective of these partnerships is the development of an integrated gas value chain capable of transforming Venezuela's substantial natural gas resources into reliable domestic supply and future export opportunities, including the potential to export the first LNG molecules produced in Venezuela”
Lorenzo Simonelli, Chairman and CEO of Baker Hughes
“Venezuela holds tremendous potential to become a significant contributor to the evolving global energy landscape, and these agreements are designed to bring world-class resource opportunities, project development, energy infrastructure & technologies, and financing expertise together to realize this.”
Jesus Bronchalo, CEO of Fulcrum LNG, Inc.
“This strategic alliance with PDVSA is a historic opportunity to maximize the use and value of Venezuela's natural gas resources, and it reflects the capabilities and expertise of Fulcrum, Lindsayca and Baker Hughes in developing fully integrated gas value chains, from upstream production to end markets”
Jesus Bronchalo, CEO of Fulcrum LNG, Inc.
“In the near term, we will work closely with PDVSA to identify and execute the infrastructure developments and upgrades needed to meet its internal gas requirements, while pursuing opportunities to supply natural gas to the domestic market to support reliable power generation for Venezuela and its people. Over the medium and long term, we will evaluate the development and financing of new open-access midstream and LNG infrastructure that gives PDVSA and other upstream operators solutions to monetize their gas, positioning Venezuela to become a key player in the global gas and LNG industry and helping meet growing world energy demand.”
* An alliance agreement was signed with PDVSA, Lindsayca and Fulcrum LNG, Inc. to restore energy infrastructure for gas production * An MOU with New Stratus Energy Inc. was also recently signed to support the future development of in-country oil and gas resources CARACAS, Venezuela, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, Monday announced the signing of two strategic agreements to accelerate the revitalization of Venezuela’s energy infrastructure across the natural gas value chain and expansion of the country’s energy production.
In Caracas, the company signed a strategic alliance agreement with PDVSA, Lindsayca and Fulcrum LNG, Inc. to revitalize and expand the country’s natural gas infrastructure. Baker Hughes also recently signed a separate Memorandum of Understanding (MOU) with New Stratus Energy Inc. to support the development of future oil and gas prospects.
Get started
Create a free account to read the full story.