Baker Hughes to supply equipment for Alaska LNG project

WASHINGTON - Baker Hughes (NASDAQ:BKR) has formed a strategic alliance with Alaska LNG to supply main refrigerant compressors and power generation equipment for the proposed liquefied natural gas project, the companies announced Monday. The energy technology company, currently trading near its 52-week high with a market capitalization of $48.2 billion, has seen its stock surge over 32% in the past six months.

As part of the agreement, Baker Hughes will also make a strategic investment in the Alaska LNG project, which is majority owned and developed by Glenfarne Alaska LNG, LLC. The financial terms of the investment were not disclosed. According to InvestingPro data, Baker Hughes operates with a moderate debt level and is currently slightly undervalued based on Fair Value estimates, suggesting the company has financial flexibility for strategic investments like this one.

The announcement was made during a ceremony in Washington, D.C., attended by 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, according to the press release statement.

Glenfarne is developing Alaska LNG in two financially independent phases. Phase One involves constructing an 807-mile, 42-inch pipeline to transport natural gas from Alaska's North Slope to meet domestic energy needs. Phase Two will add an LNG terminal with 20 million tonnes per annum (MTPA) export capacity.

Worley is expected to complete final engineering and cost analysis for the pipeline in December, ahead of a final investment decision on Phase One. The final investment decision for Phase Two is expected in late 2026.

Since becoming lead developer in March, Glenfarne has secured preliminary commercial commitments with LNG buyers in Japan, Korea, Taiwan, and Thailand for 11 MTPA, representing more than 60% of the volume needed to reach final investment decision.

Baker Hughes previously agreed to supply compression equipment for Glenfarne's Texas LNG project. Glenfarne's permitted North American LNG portfolio totals 32.8 MTPA of capacity across projects in Alaska, Texas, and Louisiana.

In other recent news, Chart Industries reported its third-quarter 2025 financial results, revealing adjusted earnings per share of $2.78, which did not meet analyst expectations of $3.10. The company also reported revenue of $1.1 billion, falling short of the consensus estimate of $1.18 billion. Meanwhile, Baker Hughes has announced that it received an order from Bechtel Energy Inc. to supply primary liquefaction equipment for Train 5 of NextDecade's Rio Grande LNG facility in Brownsville, Texas. This order includes two Frame 7 gas turbines and six centrifugal compressors, which will support an additional liquefied natural gas production capacity of approximately 6 million tonnes per annum. These developments reflect the latest activities involving both companies.

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