Glenfarne, Baker Hughes Announce Definitive Agreements to Advance Alaska LNG
Rhea-AI Summary
Baker Hughes (NASDAQ: BKR) and Glenfarne announced definitive agreements to advance the Alaska LNG Project on Nov 10, 2025.
Key points: Baker Hughes will supply main refrigerant compressors for the LNG terminal, power generation equipment for the North Slope gas treatment plant, and has committed a strategic investment. Glenfarne is developing the project in two financially independent phases: Phase One is an 807-mile, 42-inch pipeline; Phase Two will add an LNG terminal enabling 20 MTPA export capacity with FID expected in late 2026. Glenfarne reports 11 MTPA of preliminary buyer commitments from buyers in Japan, Korea, Taiwan, and Thailand and a permitted North American LNG portfolio of 32.8 MTPA.
Positive
- Baker Hughes selected as supplier for main refrigerant compressors
- Baker Hughes committed a strategic investment supporting project financing
- Glenfarne secured 11 MTPA of preliminary LNG buyer commitments
Negative
- Phase Two still requires additional offtake to reach full 20 MTPA capacity
- Phase One FID depends on Worley final engineering and cost analysis due Dec 2025
News Market Reaction 1 Alert
On the day this news was published, BKR gained 0.31%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
WASHINGTON, D.C., Nov. 10, 2025 (GLOBE NEWSWIRE) -- Alaska LNG, majority owned and developed by Glenfarne Alaska LNG, LLC (Glenfarne), and Baker Hughes (NASDAQ: BKR), an energy technology company, on Monday announced a strategic alliance to advance the Alaska LNG Project. Glenfarne has selected Baker Hughes as its supplier for main refrigerant compressors for the LNG terminal and power generation equipment for the North Slope gas treatment plant. Baker Hughes has also committed to a strategic investment to support Alaska LNG. The agreements were announced today in a ceremony in Washington, D.C., with U.S. Secretary of the Interior Doug Burgum and Secretary of Energy Chris Wright.
“Baker Hughes is pleased to support Alaska LNG with our gas technology solutions,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Natural gas and LNG provide secure, affordable, and reliable energy, and we look forward to continuing our collaboration with Glenfarne to bring lower-carbon natural gas from Alaska to the global market.”
“Baker Hughes is a welcome partner for Alaska LNG because of their leadership in LNG compression technology,” said Brendan Duval, CEO and founder of Glenfarne. “Their participation reflects Alaska LNG’s momentum and its ability to attract global partners to achieve national and state energy objectives.”
"American LNG is not just an energy source – it's a strategic asset that powers our economy, strengthens our alliances, and secures our nation's future," said Chairman of the National Energy Dominance Council and Secretary of the Interior Doug Burgum. "By forging this strategic alliance and investment in the Alaska LNG Project, we're strengthening our nation's energy security while advancing a bold vision for U.S. energy independence and global competitiveness. Together, through partnerships with industry leaders like Glenfarne and Baker Hughes, we're building the infrastructure and partnerships that ensure U.S. leadership in reliable, responsible, and affordable energy for decades to come – starting in Alaska."
“Alaska LNG has the potential to be one of the most significant energy infrastructure projects in our nation’s history," said U.S. Energy Secretary Chris Wright. "Today’s investment announcement is an important step forward for the project, prosperity in Alaska, and the energy security of America and our allies. The Trump administration remains committed to unleashing Alaska’s energy potential, including by supporting Alaska LNG.”
Glenfarne is developing Alaska LNG in two financially independent phases to accelerate project execution. Phase One consists of an 807-mile, 42-inch pipeline to transport natural gas from Alaska’s North Slope to meet Alaska’s domestic energy needs. Worley is expected to complete final engineering and cost analysis for the pipeline in December leading into a final investment decision on this phase of the project.
Phase Two of the project will add the LNG terminal and related infrastructure to enable 20 million tonnes per annum (MTPA) of LNG export capability and is expected to declare FID in late 2026.
Glenfarne became lead developer of Alaska LNG in March. Since then, Glenfarne has secured preliminary commercial commitments with leading LNG buyers in Japan, Korea, Taiwan, and Thailand for 11 MPTA of LNG, more than
Glenfarne’s permitted North American LNG portfolio totals 32.8 MTPA of capacity across projects in Alaska, Texas, and Louisiana. The companies previously announced that Baker Hughes will supply compression equipment for Glenfarne’s Texas LNG project.
About Baker Hughes
Baker 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.
About Glenfarne
Glenfarne Group is a privately held global developer, owner, and operator of energy infrastructure assets. Through its subsidiaries, Glenfarne owns and operates over 60 energy assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. Glenfarne’s permitted North American LNG portfolio totals 32.8 MTPA of capacity under development in Alaska, Louisiana, and Texas. For more information, please visit www.glenfarne.com.
For more information, please contact:
Media contacts
Baker Hughes
Adrienne M. Lynch
adrienne.lynch@bakerhughes.com
+1 713-906-8407
Glenfarne
Tim Fitzpatrick
News@Glenfarnegroup.com
+1 907-717-4978
Investor Relations
Baker Hughes
Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6a1c62c0-2557-4772-a887-eed8222af9ae
FAQ
What did Baker Hughes announce for Alaska LNG (BKR) on Nov 10, 2025?
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