Baker Hughes wins major order from Qatar LNG for North Field South
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Baker Hughes (NASDAQ:BKR) said Monday it received an order from QatarEnergy for two main refrigerant compressors for the North Field South Project; financial details were not disclosed.
Baker Hughes (BKR) said the order consists of six gas turbines and 12 centrifugal compressors across two liquefied natural gas "mega trains" representing 16M metric tons/year of additional capacity that is estimated to further boost Qatar's LNG production capacity to 126M tons/year by 2027.
The North Field is the world's single largest non-associated natural gas field; the project, owned by QatarEnergy in partnership with a number of international oil companies, is the second phase of the North Field Expansion Project.
Baker Hughes (BKR) "should be considered a second choice in the oilfield services segment," Fun Trading writes in an analysis published recently on Seeking Alpha.