Baker Hughes discusses future of industry at St Petersburg International Economic Forum

Baker Hughes discusses future of industry at St Petersburg International Economic Forum


Lorenzo Simonelli, chairman & CEO at Baker Hughes, said: “I have attended the St Petersburg International Economic Forum for several years, but this year was even more important, as we met in-person, safely, to accelerate towards net-zero and a more efficient oil & gas industry.”

He added: “There, we announced several important agreements to advance the energy transition for our customers and ourselves. First, a key collaboration with our long-time customer LUKOIL to explore energy efficient technologies, including artificial lift solutions which could reduce emissions by up to 20 percent vs current processes, as well as launching new carbon reduction initiatives.”

Baker Hughes has also signed an agreement with Fortum to purchase renewable energy for its Russian facilities, “taking similar approaches we have taken in Texas, the UK, and other regions,” Simonelli added. “These are the collaborations we need to see progress in our journey to net-zero, and thanks to our partners for their commitments.”

For more information visit www.bakerhughes.com

7th June 2021