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

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

News Market Reaction – BKR

+3.61%

1 alert

+3.61% News Effect

On the day this news was published, BKR gained 3.61%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

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

5 metrics

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

Market Reality Check

Price: $63.22 Vol: Volume 17,662,091 is 58% ...

high vol

$63.22 Last Close

Volume Volume 17,662,091 is 58% above 20-day average 11,152,148. high

Technical Price 60.35 is trading above 200-day MA at 48.2.

Peers on Argus

Momentum scanner shows 2 peers (e.g., HAL, WFRD) moving up with median gain abou...

2 Up

Momentum scanner shows 2 peers (e.g., HAL, WFRD) moving up with median gain about 0.5%, indicating broader sector strength alongside BKR.

Historical Context

5 past events · Latest: Mar 18 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 18	Service agreement win	Positive	+0.8%	60‑month strategic service deal with Petrobras for up to 64 turbines.
Mar 12	Industry award	Positive	-5.2%	Waygate Technologies unit recognized as 2026 Global Company of the Year.
Mar 11	Debt financing notes	Negative	-5.2%	Issued $6.5B and €3B senior notes to help fund Chart acquisition.
Mar 05	Notes offering priced	Negative	-0.6%	Priced $6.5B and €3B senior note offerings across nine tranches.
Feb 24	Large power order	Positive	+1.6%	1.21 GW generator order for AI data center baseload power solution.

Pattern Detected

News on commercial wins and large financings has usually seen share moves that align with the positive or negative tone, with one notable divergence on an industry award.

Recent Company History

Recent BKR news featured multiple large commercial and financing milestones. On Feb 24, the company secured a 1.21 GW generator order for AI data center power, with shares up modestly. Early March saw multi-billion dollar note offerings tied to the proposed Chart Industries acquisition, followed by an 8-K confirming the bond deals. A Petrobras turbomachinery service agreement on Mar 18 was followed by a small gain, while a Frost & Sullivan award on Mar 12 coincided with a sharper decline, showing occasionally mixed reactions.

Market Pulse Summary

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 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. Not financial advice.

• 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

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.