Baker Hughes to provide hydrogen-ready compressor upgrade for Greece pipeline
Igor Borisenko/iStock via Getty Images

Baker Hughes (NASDAQ:BKR) says it was awarded a contract by TERNA to supply gas turbines and compressors that can run on a blend of natural gas and hydrogen for a new compression station to serve domestic gas supply in Greece; financial details are not disclosed.
Baker Hughes will provide three compression trains for a total of three NovaLT12 hydrogen-ready gas turbines and three PCL compressors; the technology has been designed to support the compression station with the capability to transport up to 10% hydrogen.
The award follows Baker Hughes' installation of the first hydrogen-blend gas turbine for a gas network in Italy.
The company says the station, which is expected to begin operation in 2024, directly supports the European Union's Hydrogen Strategy goals to accelerate the development of clean hydrogen.
Shares of Baker Hughes and other oilfield services stocks have been trading near multiyear as crude oil prices soar.