Baker Hughes Signs Agreements to Develop Venezuelan Gas Infrastructure

Baker Hughes signed two agreements in Caracas to develop Venezuela's energy infrastructure and natural gas resources. The company entered a strategic alliance with Petróleos de Venezuela, S.A. (PDVSA), Lindsayca, and Fulcrum LNG, Inc. to revitalize and expand natural gas infrastructure. This partnership aims to establish an integrated value chain to secure domestic supply and create future liquefied natural gas (LNG) export opportunities.

Additionally, Baker Hughes signed a Memorandum of Understanding with New Stratus Energy Inc. to support the development of future oil and gas prospects. These initiatives are designed to transform national gas resources into reliable power generation and export capacity.

The agreements function as cooperation frameworks. The execution of specific projects remains subject to internal approvals and compliance with U.S. sanctions and export control requirements, including necessary authorizations from the U.S. Department of the Treasury’s Office of Foreign Assets Control.