Baker Hughes wins contract for Driftwood LNG zero-emissions equipment
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Baker Hughes (NASDAQ:BKR) was awarded a $240M contract by Tellurian (NYSE:TELL) to provide zero-emissions turbomachinery equipment for two pipelines that will service the proposed Driftwood liquefied natural gas terminal in Louisiana, the companies announced on Wednesday.
Baker Hughes (BKR) said the contract marks the first time it will install its Integrated Compressor Line decarbonization technology for pipeline compression in North America.
Tellurian (TELL) said the ICL decarbonization technology will supply at least 5.5B cf/day of natural gas with virtually no emissions.
The project initially will include four 19 MW ICL compressors and other turbomachinery equipment for a total of four compressor trains, plus a LM6000PF+ gas turbine for backup power for the initial phase of the pipeline project at Driftwood's Indian Bayou Compressor Station.
Tellurian's (TELL) Driftwood LNG could become highly profitable as long as LNG markets remain strong, but there are "considerable execution and financing risks," Jonathan Weber writes in an analysis published on Seeking Alpha.