Baker Hughes Signs Gas Strategic Alliance With PDVSA and Partners, Plus an MoU With New Stratus Energy
CARACAS - Baker Hughes announced on October 5 that it has signed a strategic alliance with Venezuela's state oil company PDVSA, Lindsayca and Fulcrum LNG to develop Venezuelan natural gas infrastructure. The company also signed a memorandum of understanding with New Stratus Energy for future oil and gas projects. The signing came three days after interim President Delcy Rodriguez received Baker Hughes chief executive Lorenzo Simonelli in Caracas on October 2.
According to the company release, summarised by market outlets, the cooperation framework covers field development, gas processing, transportation, LNG commercialisation and domestic power supply. Specific projects remain subject to separate agreements, internal approvals and U.S. sanctions and export-control requirements - making the alliance a first, formalising step rather than a list of projects already under construction.
Venezuela holds some of Latin America's largest gas reserves, but years of underinvestment and ageing facilities have left large volumes of associated gas flared. Analysts note gas touches three priorities at once: the domestic power deficit, industrial supply, and possible exports to neighbouring Colombia - where the binational pipeline, idle since 2015, is seen by industry groups on both sides as a priority repair, with an initial estimate of at least $66 million needed.
The alliance is the latest step in this year's Venezuelan energy opening. Alongside mass oil contracting, gas cooperation is advancing through a mix of an international services major, local firms and an LNG specialist; whether its projects clear approvals and sanctions review will test the real pace of the reopening.
Sources: Compiled from Baker Hughes' October 5, 2026 announcement via GlobeNewswire (summarised by ad-hoc-news and other market outlets) and Reuters reporting on the Venezuela-Colombia gas pipeline.
Published by GSM · USA (original Chinese edition)
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