Baker Hughes Signs Gas Infrastructure Agreements with PDVSA, Lindsayca, and Fulcrum LNG

Energy technology and services provider Baker Hughes signed cooperation agreements in Caracas aimed at advancing natural gas infrastructure and hydrocarbon projects in Venezuela. The primary initiative involves a four-party strategic alliance with Petróleos de Venezuela (PDVSA), Lindsayca Inc., and Fulcrum LNG to develop the natural gas value chain within the country.

In a separate transaction, the company entered into a memorandum of understanding with New Stratus Energy regarding technological support for oil and gas developments. According to consulted sources, the parties did not disclose financial terms or investment figures for the transactions announced on October 5, 2026.

The signed documents establish preliminary strategic cooperation frameworks rather than finalized execution projects. Implementation of specific midstream, compression, or processing phases remains contingent upon negotiating separate definitive agreements, securing corporate approvals, and obtaining necessary regulatory authorizations and sanctions licenses from the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC).

Lorenzo Simonelli, chairman and chief executive officer of Baker Hughes, stated that the joint effort seeks to establish an integrated chain to turn gas resources into reliable domestic supply and eventual liquefied natural gas (LNG) export opportunities. Fulcrum LNG chief executive Jesús Bronchalo noted that short-term priorities will focus on addressing domestic fuel shortages and reinforcing national power generation. Prior to the announcements, a Baker Hughes delegation met in Caracas with Delcy Rodríguez.

Among the key participating entities, Baker Hughes is a U.S.-origin energy equipment and services firm with over 60 years of documented operations in Venezuela, where it maintains more than 1,200 crude production systems and roughly 240 turbomachinery units across 23 locations. Houston-headquartered Lindsayca Inc. has operated in the domestic market since 1986 through local affiliate Lindsay C.A., while Fulcrum LNG is a U.S. midstream and liquefaction infrastructure developer backed by private capital.