ST LNG Selects Baker Hughes as Technology Provider for U.S. Offshore LNG Project

Baker Hughes (NASDAQ: BKR) will supply gas compression and power generation equipment for ST LNG’s proposed 8.4 MTPA offshore LNG export terminal near Matagorda, Texas.

Rhea-AI Summary

Baker Hughes (NASDAQ: BKR) will supply gas compression and power generation equipment for ST LNG’s proposed 8.4 MTPA offshore LNG export terminal near Matagorda, Texas. Scope includes two LM6000PF compressor trains and three NovaLT™16 gas turbine generator packages for the 2.1 MTPA first phase.

ST LNG targets first LNG in Q2 2030; Baker Hughes said it expects to recognize orders as the project advances toward Final Investment Decision.

Positive

• Supply agreement covers equipment for an 8.4 MTPA export terminal
• First phase capacity secured at 2.1 MTPA
• Concrete equipment: 2 LM6000PF compressor trains and 3 NovaLT16 generator packages
• Targeted first LNG in Q2 2030, providing a clear project timeline

Negative

• Final Investment Decision is still pending, leaving project execution timing uncertain
• Order recognition is conditional; Baker Hughes will recognize orders as project advances, not immediately

Argus Mar 23 session

+3.61% close to close Open Argus

Details

News Market Reaction – BKR

In the Mar 23 session, BKR gained 3.61%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement expands Baker Hughes’ LNG backlog with turbomachinery and power equipment for ST L...

Analysis

This announcement expands Baker Hughes’ LNG backlog with turbomachinery and power equipment for ST LNG’s proposed 8.4 MTPA offshore terminal, securing capacity for a first phase of 2.1 MTPA and targeting first LNG by Q2 2030. It adds to a pattern of large orders in energy and data-center power. Investors may watch how this feed-throughs into future orders, execution milestones toward final investment decision, and the evolving mix of LNG versus other growth projects.

Key Figures

Terminal capacity: 8.4 MTPA Phase 1 capacity: 2.1 MTPA Compressor trains: 2 LM6000PF units +2 more

Terminal capacity

8.4 MTPA

Proposed LNG export terminal nameplate capacity

Phase 1 capacity

2.1 MTPA

Expected production from first phase of LNG project

Compressor trains

2 LM6000PF units

Gas turbine-driven centrifugal compressor trains to be supplied

Generator packages

3 NovaLT™16 units

Gas turbine generator packages in initial scope

First LNG timing

Q2 2030

Targeted timing for first LNG from ST LNG facility

Historical Context

5 past events · Latest: Mar 18

5 events

1. Mar 18

   Service agreement win

   24h Move

   +0.8%

   60‑month strategic service deal with Petrobras for up to 64 turbines.

2. Mar 12

   Industry award

   24h Move

   -5.2%

   Waygate Technologies unit recognized as 2026 Global Company of the Year.

3. Mar 11

   Debt financing notes

   24h Move

   -5.2%

   Issued $6.5B and €3B senior notes to help fund Chart acquisition.

4. Mar 05

   Notes offering priced

   24h Move

   -0.6%

   Priced $6.5B and €3B senior note offerings across nine tranches.

5. Feb 24

   Large power order

   24h Move

   +1.6%

   1.21 GW generator order for AI data center baseload power solution.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

lng, mtpa, liquefied natural gas, aeroderivative gas turbine, +1 more

5 terms

lng technical

"8.4 million tonnes per annum (MTPA) liquefied natural gas (LNG) export terminal"

Liquefied natural gas (LNG) is natural gas that has been cooled into a liquid so it takes up far less space for transport and storage, like turning a bulky bundle into a compact package for shipping. Investors care because LNG enables gas trade across regions without pipelines, so changes in production, export capacity, shipping, or demand can quickly affect energy company revenues, infrastructure operators and commodity prices, amplifying both opportunity and risk.

mtpa technical

"proposed 8.4 million tonnes per annum (MTPA) liquefied natural gas (LNG) export terminal"

mtpa stands for million tonnes per annum and is a measure of how much material a facility or industry — such as mining, oil, gas, chemicals, or cement — can produce in one year. Investors care because it quantifies production capacity like a factory’s hourly output, which helps estimate potential revenue, assess supply impact on prices, and compare scale between projects or companies.

liquefied natural gas technical

"8.4 million tonnes per annum (MTPA) liquefied natural gas (LNG) export terminal"

Liquefied natural gas (LNG) is natural gas that has been cooled into a liquid so it can be shipped and stored more easily—think of it like condensing a bulky gas into a compact, refrigerated form for transport. It matters to investors because LNG supply, shipping capacity, and long-term contracts influence energy prices, company revenues, and exposure to geopolitical or infrastructure risks, much like how a clogged highway can delay deliveries and raise costs.

aeroderivative gas turbine technical

"two LM6000PF aeroderivative gas turbine driven centrifugal compressor trains"

Aeroderivative gas turbines are power generators adapted from aircraft jet-engine designs: they are lighter, faster to start and more compact than industrial turbines, like using a high-performance car engine to run a portable generator. Investors care because these traits enable quick response to changing electricity demand, lower upfront installation space and potentially different fuel and maintenance costs, all of which affect project returns, operating flexibility and risk profiles for power and energy businesses.

centrifugal compressor technical

"LM6000PF gas turbine-driven centrifugal compressor trains and three NovaLT™16"

A centrifugal compressor is a rotating machine that speeds up a gas and directs it outward through a narrowing passage to increase its pressure, similar to how a spinning fan pushes air outward and into a confined duct. Investors care because these devices are central to industries like energy, chemicals, and manufacturing: their efficiency, reliability, and maintenance costs directly affect production capacity, operating expenses, and capital spending, which in turn influence revenue and profit forecasts.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• Baker Hughes to supply gas compression and power generation technology for ST LNG’s proposed 8.4 MTPA LNG export terminal
• Scope to include two LM6000PF aeroderivative gas turbine driven centrifugal compressor trains and three NovaLT™16 gas turbine generator packages
  
  

HOUSTON and LONDON, March 23, 2026 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, and ST LNG, LLC announced Monday an agreement under which Baker Hughes will supply critical gas compression, power generation equipment, and project development support for ST LNG’s proposed 8.4 million tonnes per annum (MTPA) liquefied natural gas (LNG) export terminal offshore of Matagorda, Texas.

As part of the agreement, Baker Hughes will provide two LM6000PF gas turbine-driven centrifugal compressor trains and three NovaLT™16 gas turbine generator packages, securing the necessary production capacity for the first phase of the project, which is expected to deliver 2.1 MTPA as part of a planned four-phase development.

“As we advance toward completion of the project’s first phase, selecting proven technology from a reliable partner with deep domain expertise is essential,” said ST LNG CEO Sharad Tak. “Baker Hughes’ extensive experience across LNG projects, including complex offshore environments, provides confidence that the ST LNG facility will achieve first LNG in the second quarter of 2030. Their ability to deliver a comprehensive equipment solution, combined with their commitment to supporting project development, is a key enabler in advancing our deepwater LNG port.”

"Our LNG solutions portfolio is designed to support a wide range of operational requirements, from large-scale onshore facilities to specialized offshore applications such as ST LNG’s,” said Baker Hughes Chairman and CEO Lorenzo Simonelli. “We look forward to working closely with ST LNG to deliver reliable, efficient and lower-carbon solutions.”

The selection of Baker Hughes for this facility, to be located in U.S. federal waters, represents a significant milestone as the project progresses toward Final Investment Decision. Baker Hughes expects to recognize orders associated with this agreement as the project advances.

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 ST LNG
ST LNG LLC is proposing an offshore LNG export terminal near Matagorda, Texas. The privately held company made the project public in June 2025 as it pursued a key deepwater port license from the U.S. Maritime Administration. The proposed development will consist of up to four liquefaction units installed on fixed platforms, each with a nominal capacity of 2.1 MTPA, resulting in a total planned capacity of 8.4 MTPA. Initial production from the first phase is targeted for mid-2030.

For more information, please contact:

Media Relations

Baker Hughes
Chiara Toniato 
+39 3463823419 
Chiara.toniato@bakerhughes.com

ST LNG
Alap Shah, PE
President
ST LNG, LLC
1.844.769.9070
info@stenergyco.com

Investor Relations

Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What equipment will Baker Hughes supply for ST LNG’s 8.4 MTPA project (BKR)?

Baker Hughes will supply two LM6000PF aeroderivative compressor trains and three NovaLT16 gas turbine generator packages. According to Baker Hughes, this scope secures production capacity for the project’s first phase of 2.1 MTPA.

What is the first-phase capacity and timeline for ST LNG’s offshore terminal (BKR)?

The first phase is sized at 2.1 MTPA with first LNG targeted in Q2 2030. According to ST LNG, the 2.1 MTPA is part of a planned four-phase 8.4 MTPA development.

How will this Baker Hughes contract affect Baker Hughes’ order recognition (BKR)?

Baker Hughes expects to recognize orders associated with the agreement as the project advances toward FID. According to Baker Hughes, timing of order booking depends on project milestones and progression to Final Investment Decision.

Where will ST LNG’s offshore LNG export terminal be located and who is the developer (BKR)?

The terminal is proposed offshore of Matagorda, Texas in U.S. federal waters and is developed by ST LNG. According to ST LNG, the facility is planned as a deepwater LNG port in a four-phase development.

Does the Baker Hughes scope include power generation for ST LNG’s project (BKR)?

Yes, the scope includes three NovaLT16 gas turbine generator packages for power generation. According to Baker Hughes, the packages are part of the integrated compression and power solution for the first phase.

Is the ST LNG project finalised and what are the remaining milestones (BKR)?

The project is progressing but not finalised; it is moving toward a Final Investment Decision. According to the companies, recognition of orders and full execution depend on reaching FID and subsequent project advancement.