Baker Hughes expects LNG orders to strenghten in H2, CEO says

“So if you look into the second half, we do anticipate strengthening LNG orders and a number of the projects that we’ve mentioned in the past coming through and that we’ve been working on,” Simonelli said during the second-quarter earnings call on Wednesday.

“And for 2026, you know, we see secular tailwinds across many of the end markets. Continue to strengthen. So we expect solid momentum across LNG, and we expect 2026 IT orders to be consistent with 2025 levels,” he said.

In April, Simonelli said during the frist-quarter call that Baker Hughes booked around $1.7 billion of orders for US LNG projects over the past two quarters.

Baker Hughes secured $510 million in LNG equipment orders in the first quarter of this year.

The CEO said on Monday that Baker Hughes achieved no material LNG equipment orders in the second quarter.

Simonelli noted that Baker Huges renewed a multi-year service contract with state-owned LNG producer Oman LNG featuring remote monitoring and diagnostic services.

LNG FIDs

According to Simonelli, approximately 60 mtpa of additional LNG FIDs are “needed over the next 18 months to reach our three-year target of 100 mtpa – which would bring the global installed base to our long-held target of 800 mtpa by 2030.”

“Beyond this, we see continued growth in the installed base, as energy demand and emissions reductions efforts converge,” he said.

This year, LNG demand continues to grow “rapidly”, up 5 percent year-over-year, as softness in China is more than offset by strength in Europe, Simonelli said.

The CEO noted that this increase in demand is driving sustained momentum in LNG contracting activity.

“For example, Wood Mackenzie reports 49 mtpa of long-term LNG offtake contracts have been signed in the first half of the year – positioning 2025 to exceed the record 81 mtpa signed last year,” Simonelli said.