{"id":103266,"date":"2024-05-27T11:45:50","date_gmt":"2024-05-27T10:45:50","guid":{"rendered":"https:\/\/jazairhope.org\/?p=103266"},"modified":"2024-05-27T11:45:53","modified_gmt":"2024-05-27T10:45:53","slug":"baker-hughes-to-support-strategic-gas-project-in-algeria-to-enhance-italy-europes-energy-security","status":"publish","type":"post","link":"https:\/\/jazairhope.org\/en\/baker-hughes-to-support-strategic-gas-project-in-algeria-to-enhance-italy-europes-energy-security\/","title":{"rendered":"Baker Hughes to Support Strategic Gas Project in Algeria to Enhance Italy, Europe\u2019s Energy Security"},"content":{"rendered":"
ALGIERS, Algeria,\u00a0May 23, 2024\u00a0(GLOBE NEWSWIRE) —\u00a0Baker Hughes\u00a0(NASDAQ: BKR), an energy technology company, announced Thursday it was awarded a major contract from\u00a0SONATRACH\u00a0for a gas-boosting project for the Hassi R\u2019Mel gas field in\u00a0Algeria. The contract is part of a broader order awarded to a consortium between\u00a0Baker Hughes\u00a0and Tecnimont, part of technology and engineering group MAIRE. The signing ceremony took place in Algiers in the presence of the three company CEOs:\u00a0Rachid Hachichi\u00a0of\u00a0SONATRACH,\u00a0Lorenzo Simonelli\u00a0of\u00a0Baker Hughes, and\u00a0Alessandro Bernini\u00a0of MAIRE, as well as H.E. Mohamed Arkab, Minister of Energy & Mines.<\/span><\/p>\n Baker Hughes\u2019 awarded scope includes the supply of 20 compression trains based on Frame 5 gas turbine and BCL compressor technology, which will be installed across three gas boosting stations within the Hassi R\u2019 Mel gas field. Located 550 km south of Algiers, Hassi R\u2019 Mel is the largest gas field in\u00a0Algeria\u00a0and one of the largest in the world, representing a key source of energy supply for\u00a0Algeria\u00a0and\u00a0Europe. Baker Hughes\u2019 proven technology solutions are expected to play a central role in the project by boosting and stabilizing the pressure of natural gas and increasing production at site, which will enhance Algeria\u2019s domestic energy system and economy as well as Europe\u2019s energy security.<\/span><\/p>\n \u201cToday\u2019s announcement marks a notable milestone in our historical collaboration with\u00a0SONATRACH\u00a0for key energy projects in\u00a0Algeria\u00a0that have played a crucial role in supplying reliable energy to Europe,\u201d said\u00a0Lorenzo Simonelli, chairman and CEO of\u00a0Baker Hughes. \u201cWe have long believed that it is critical to increase gas within the overall global energy mix to help achieve a lower-carbon economy. This project helps to solve for energy producers\u2019 multi-faceted challenge of driving sustainable energy development as energy demand increases. We are proud to support such a critical energy project in partnership with Tecnimont.\u201d<\/span><\/p>\n The new gas-boosting stations are part of Algeria\u2019s ambitious plan to strengthen its role in the global energy market and its commitment to natural gas as a key energy source for socio-economic development. According to\u00a0Bloomberg NEF<\/a>,\u00a0Algeria\u00a0became the second-largest gas supplier to\u00a0Europe\u00a0in 2023, further strengthening the country\u2019s role in enhancing the energy security of the continent, particularly in\u00a0Italy\u00a0where\u00a0Algeria\u00a0represents the biggest single source of import. The Hassi R\u2019\u00a0Mel Project\u00a0is part of a broader strategic collaboration between\u00a0Algeria\u00a0and\u00a0Italy, which includes recently signed agreements to foster bilateral cooperation and provide financial support for Algeria\u2019s gas production as part of\u00a0the Mattei Plan<\/a>. The Mattei Plan seeks to promote cooperation between\u00a0Africa\u00a0and\u00a0Italy\u00a0along five main policy pillars: education and training, agriculture, health, water and energy.<\/span><\/p>\n Packaging of the compressor trains, as well as manufacturing of the compressors and testing of the trains, will take place at Baker Hughes\u2019 facilities in\u00a0Italy.<\/span><\/p>\n About\u00a0Baker Hughes<\/strong><\/span><\/p>\n Baker Hughes\u00a0(NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward \u2013 making it safer, cleaner and more efficient for people and the planet. Visit us at\u00a0bakerhughes.com.<\/a><\/span><\/p>\n For more information, please contact:<\/strong><\/span><\/p>\n Media Relations<\/strong><\/span><\/p>\n Chiara Toniato<\/span> Investor Relations<\/strong><\/span><\/p>\n Chase Mulvehill<\/span><\/span>
\n+39 3463823419<\/span>
\nchiara.toniato@bakerhughes.com<\/a><\/span><\/p>\n
\n+1 281-809-9088<\/span>
\ninvestor.relations@bakerhughes.com<\/a><\/span><\/p>\n