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.

Together, these agreements establish an enterprise deal framework that can connect upstream resource development, midstream infrastructure, gas monetization, and LNG commercialization. This creates a pathway to unlock Venezuela's significant natural gas potential.

About the agreements

Under the alliance with PDVSA, Lindsayca and Fulcrum, the companies will combine Baker Hughes' broad portfolio of industrialized energy solutions for oil and gas field development, gas infrastructure and LNG solutions, Lindsayca's engineering, procurement, construction, and operational capabilities, and Fulcrum's midstream and LNG project development, financing and market access. The collaboration will focus on developing project specific agreements, advancing critical infrastructure required to process, transport, commercialize, and export natural gas, for the first time in the history of Venezuela.

The alliance is a cooperation framework. Any specific project will be subject to separate definitive agreements, each party’s internal approvals, and applicable U.S. sanctions and export control requirements, including authorizations issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).

Through the MOU with New Stratus Energy, Baker Hughes will support the development of future oil and gas prospects. The partnership will leverage Baker Hughes' integrated portfolio of subsurface, drilling, production, processing, digital, emissions abatement, power generation, oil and gas monetization, and liquefied natural gas (LNG) technologies to maximize resource recovery opportunities and accelerate future project developments.

Baker Hughes has supported Venezuela’s energy sector for more than 60 years. Its installed base in country includes more than 1,200 oil production systems, the largest artificial lift footprint, significant flexible pipe infrastructure, and approximately 240 turbomachinery units across 23 sites.