Baker Hughes will provide infrastructure for Argent LNG’s 24 mtpa Louisiana project, which is slated to start construction in 2026.
At a news conference, President Trump said that he would exclude oil from tariffs before backtracking to say that he “may or may not” impose duties on crude.
Baker Hughes Co. also signed a multiyear services agreement to support the first two phases of Venture Global’s Plaquemines LNG project in Louisiana.
LNG shipping rates are at historic lows as a flooded transport market waits for projects to come online and more cargoes to move.
Upstream M&A hit a high of $105 billion in 2024 even as deal values declined in the fourth quarter with just $9.6 billion in announced transactions.
Fundamentals will push against increased production and a buyers’ market will rule.
E&Ps such as Expand Energy and EQT Corp. saw share prices drop on news of less power-intensive AI, but analysts predict the natural gas market will rebound as LNG exports and overall power demand continues to increase.
In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Winter Storm Enzo knocked out the Quintana Island plant’s electrical supply on Jan. 21.
Venture Global’s pre-IPO pricing at $25 a share valued the Gulf Coast LNG operator at some $65 billion, but shares fell below $25 by about 3% in trading Jan. 24.