- Memorandum of Understanding (MoU) will identify technologies within Baker Hughes’ broad portfolio of carbon management and climate technology solutions that have the potential to support Woodside’s climate strategy
- Collaboration also seeks to explore opportunities that could support Woodside's customers chosen decarbonization pathways
According to the company’s website news release on December 8, 2022, Baker Hughes (NASDAQ: BKR), an energy technology company, and Woodside Energy announced Thursday that they have entered into a memorandum of understanding (MoU) to explore potential business arrangements and initiatives that may have the potential to support Woodside’s climate strategy or its customers’ chosen decarbonization pathways.
The MoU seeks to identify projects for potential collaboration between the two companies including potential projects in Australia, Asia and the United States, subject to any necessary third-party approvals. Baker Hughes will explore how its portfolio of solutions have the potential to support Woodside’s climate strategy including:
- Lower-carbon solutions including hydrogen, ammonia-fueled, hybrid and fully electric solutions, as well as NET Power’s technology
- Emissions detection, measurement and abatement solutions
- Carbon capture and storage solutions, including CO2 compression, offshore flexible flowline technology, and chemical products and solutions such as corrosion inhibitors
- Hydrogen compression, liquefaction and transportation
“Collaborations provide a pathway to help solve the challenges we face in our industry today and into the future,” said Daniel Kalms, executive vice president of Technical Services for Woodside Energy. “We look forward to working with Baker Hughes to identify technology solutions that could have the potential to support Woodside’s climate strategy.”
“A full range of technologies and solutions are needed to help the energy industry and hard-to-abate sectors to reduce emissions without sacrificing operational excellence,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “Collaboration is key to making progress toward emissions reductions goals in the energy transition, and we are pleased to be working alongside our long-time customer Woodside to help them further their own climate change strategy to advance their impressive efforts."
Baker Hughes’ longstanding relationship with Woodside began in 1989, when the companies started partnering in pioneering LNG solutions for natural gas supply and collaborating on subsea projects. Recently, Baker Hughes was awarded a contract to provide high-efficiency gas turbines and centrifugal compressors to support the expansion of Woodside’s Pluto LNG onshore processing facility in Western Australia.
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 at bakerhughes.com..
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