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GLNG NEWS IN BRIEF GLNG

EUROPE

Avenir LNG reports

unaudited financial and
operating results for the

fourth quarter and full year

2021

assembly facilities in Italy. EQT today unveiled its plan to unleash US Avenir LNG and its subsidiaries, supplies
As part of the scope, Baker Hughes LNG to address the energy needs of our allies small-scale LNG to off-grid industry, power
will also provide field services to assist in and advance climate efforts by targeting the generation and transport fuel sectors as
commissioning of the supplied equipment. replacement of international coal. The release well as providing infrastructure to support
Today’s order builds on an award in the of the new plan comes as natural gas takes the development of LNG as a marine fuel,
fourth quarter of 2021 for Baker Hughes centre stage at CERAWeek 2022. Toby Z. Rice, today announced its unaudited financial and
to provide power generation and electrical EQT President and CEO, will further discuss operating results for the fourth quarter and
distribution equipment for the comprehensive the plan and campaign during the Innovation financial year ended December 31, 2021.
power island system of Venture Global LNG’s & the Future of Gas plenary session. Peter Mackey, chief executive officer of
Plaquemines LNG project. “We have presented today our case for Avenir commented: “Avenir is pleased to
“We are delighted to continue our strong leveraging US natural gas to meaningfully report operating revenues of $16.5 million
collaboration with Venture Global LNG. The advance our efforts in addressing global and EBITDA of $4.8 million, to the end of
Plaquemines LNG project is another great climate change. Unleashing US LNG to Q4 2021. 2021 was a critically important year
example of our extensive experience with target international coal consumption is in the growth and development of Avenir as
modular LNG to provide fully integrated not only proven, the opportunity represents we took delivery of the bulk of our new-build
compression and power solutions,” said the largest green initiative on planet,” said vessels and successfully brought our onshore
Rod Christie, executive vice president of Toby Z. Rice, EQT President and CEO. “By LNG terminal in Sardinia into operation. We
Turbomachinery & Process Solutions at providing a solution to the principal driver have one further vessel to be delivered in H1
Baker Hughes. “As an energy technology of international emissions – emissions that 2022 which will conclude the first wave of
company, Baker Hughes’ role is to provide the must be addressed if we are to succeed in our new-build asset development programme.
most efficient and lower carbon technology climate efforts – we have the ability to extend We will look back on 2021 as the most
solutions to meet our customers specific our influence in addressing climate change important year in the development of the
needs, and LNG is a critical part of the energy beyond our borders.” Company as we successfully transitioned
future. We see a new LNG cycle emerging “The United States is blessed to have from an asset development organisation into
and expect demand will remain robust in the the natural gas that it has, the largest an operating company supplying LNG to
coming years.” economically-developable resource in the multiple end-customers. I believe Avenir has
“Baker Hughes has been an outstanding world. Four countries collectively have become the blueprint for growth in the rapidly
partner to Venture Global and we look approximately two-thirds of the world’s developing small-scale LNG segment.
forward to building on that parternship as we natural gas resources: the United States, In January we announced we had entered
ramp up construction at Plaquemines LNG,” Russia, Iran and Qatar. And the substantial into a Joint Collaboration Agreement with
said Mike Sabel, Venture Global LNG CEO. “I majority of the world is reliant on coal. We Shanghai SIPG Energy Services Co., Ltd
want to thank Lorenzo Simonelli and his team need to provide solutions, and to do that, or SSES (a joint venture between Shanghai
for their execution and delivery at Calcasieu we need to prioritise LNG and pipeline International Port Group and Shenergy)
Pass, notwithstanding the challenges of a infrastructure to allow us to connect our to provide LNG bunkering services in the
global pandemic. Together we will continue resource to end-users.” Port of Shanghai. This is the first time LNG
to innovate and transform the LNG industry, “US LNG is one of the world’s largest bunkering will be offered in China and will be
bringing this essential fuel to the global weapons to combat climate change. launched with CMA CGM as the foundation
market to meet the world’s growing energy Unleashing it would enable the United States customer. Our entry into the Chinese LNG
needs.” to replace up to one-third of international bunkering market, the first foreign company
BAKER HUGHES, March 09, 2022 coal in the next 20 years,” said Rice. “But to do so, is testament to the strength of our
equally important, as the recent invasion of capability and assets which we have built
EQT launches new US LNG Ukraine by Russia highlights, it would allow within Avenir LNG.
Despite the current challenges of the
us to provide energy security to our allies
advocacy campaign during while weakening the energy dominance of our external operating environment, we continue
to see very strong growth prospects for Avenir
adversaries.”
CERAWeek 2022 EQT, March 09, 2022 LNG.”
AVENIR LNG, March 10, 2022

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