SUBSCRIBE
PROFILE

Baker Hughes and Shell: Carbon Neutrality Agreement

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

Baker Hughes extends its cooperation with Shell.
Their new agreement includes a range of measures to ensure that each company supports the other in its decarbonization efforts.

Baker Hughes to deploy low-carbon technologies for Shell

Under the agreement, Shell will supply renewable energy credits to several Baker Hughes sites in the United States.
The two companies will also negotiate for sites in Europe and Singapore.
In exchange, the company is to provide Shell with low-carbon technologies for its liquefied natural gas facilities.
Lorenzo Simonelli, Chairman and CEO of Baker Hughes, stresses that the aim is to achieve carbon neutrality.
The collaboration must respond to “the urgency of the energy transition to meet the objectives of the Paris Agreement”.

Agreement for US sites, negotiations for European sites

The first step is to finalize Shell’s supply of some of Baker’s U.S. facilities.
Shell is to supply electricity and renewable energy credits for a period of two years.
In addition, negotiations are underway for a similar supply for its sites in Europe.
The aim is to supply around 100 GWh of renewable energy.
The two companies also plan to power Baker’s chemical plant in Singapore with a photovoltaic system.

24% renewable energy in Baker Hughes assets

In 2020, the share of renewable electricity in Baker’s assets was 22%.
With this agreement, this share is set to rise to 24%.
Harry Brekelmans, Shell’s Director of Projects and Technology, welcomes the “clear ambition to decarbonize” of both companies.
The aim is to bring Shell and its customers closer to the goal of net zero carbon emissions.

A fruitful collaboration

The agreement expands a long-standing cooperation.
Baker Hughes was the first supplier to participate in the Supplier Energy Transition Hub.
This platform, launched by Shell, enables energy suppliers to share their decarbonization experiences.
Baker Hughes also helped Shell develop the Open AI Energy Initiative.
The two companies collaborated on VitalyX, a digital monitoring system to optimize shipping performance.

  • Popular on energynews.pro
GATE Energy awarded commissioning contract for bp’s Kaskida offshore project
enCore Energy secures key federal ruling for Dewey Burdock uranium project
PEMEX exceeds $9.9bn cap in bond repurchase offer
CPS Energy acquires 1,632 MW of natural gas capacity from ProEnergy for $1.39bn
Macquarie injects $350mn to support Nexamp’s solar and storage expansion in the United States
Orazul Energy Perú buys back 68% of its 2027 bonds in cash tender offer
The Peruvian power producer completed a cash tender offer for its 5.625% senior notes, reaching a participation rate of 68.39% at the close of the operation.
Colbún buys back 53% of its 2027 notes for $266mn
Chilean power producer Colbún has completed its cash tender offer for 3.950% notes due 2027, repurchasing more than half of the outstanding amount for a total of $266mn.
Iberdrola secures 84% of Neoenergia after €1.88bn acquisition
Iberdrola strengthens its presence in Brazil by acquiring PREVI’s stake in Neoenergia for BRL11.95bn, raising its ownership to 84%.
Madison Energy Infrastructure raises $800mn to support large-scale projects
US-based Madison secures $800mn debt facility to finance energy infrastructure projects and address rising grid demand across the country.
Anglo American and Teck merge to form copper giant in zero-premium deal
The announced merger between Anglo American and Teck forms Anglo Teck, a new copper-focused leader structured for growth, with a no-premium share structure and a $4.5bn special dividend.
Voltalia unveils SPRING, a strategic plan to restore profitability by 2026
Voltalia launches a transformation programme targeting a return to profit from 2026, built on a refocus of activities, a new operating structure and self-financed growth of 300 to 400 MW per year.
Ineos pulls capital from the UK and commits £3bn investments in the US
Ineos Energy ends all projects in the UK, citing unstable taxation and soaring energy costs, and redirects its investments to the US, where the company has just allocated £3bn to new assets.
Eskom rules out summer load shedding with 4000 MW added capacity
Eskom forecasts a load-shedding-free summer after covering 97% of winter demand, supported by 4000 MW added capacity and reduced operating expenses.
GE cuts 600 energy jobs in Europe, including 120 in France
GE Vernova will cut 600 jobs in Europe, with the Belfort gas turbine site in France particularly affected, amid financial growth and strategic reorganisation.
Orazul Energy launches cash tender offer for its 2027 notes
Orazul Energy Perú has launched a public cash tender offer for all of its 5.625% notes maturing in 2027, for a total principal amount of $363.2mn.
SOLV Energy strengthens infrastructure capabilities with two strategic acquisitions
SOLV Energy expands its nationwide services in the United States with the acquisitions of Spartan Infrastructure and SDI Services, consolidating its presence across all independent power markets.
Plural raises $7.13mn to fund decentralised energy assets
Tokenised asset platform Plural secures $7.13mn to accelerate financing of distributed infrastructure including solar, storage, and data centres.
Santander injects funds into Corinex to accelerate power grid digitalisation
Santander Alternative Investments has invested in Corinex to accelerate the deployment of its smart grid solutions, aiming to address growing utility needs in Europe and the Americas.
Industrial control transformer market to reach $1.48bn by 2030
Driven by grid modernisation and industrial automation, the global control transformer market could reach $1.48bn in 2030, with projections indicating steady growth in energy-intensive sectors.
Italy faces ten-year delay on EU climate targets
A report from energy group Edison highlights structural barriers slowing renewable deployment in Italy, threatening its ability to meet 2030 decarbonisation targets.
Dr Sultan Al Jaber wins ICIS CEO of the Year 2025 award for strategic performance
ADNOC Group CEO Dr Sultan Al Jaber has been named 2025 CEO of the Year by his global chemical industry peers, recognising his role in the company’s industrial expansion and international investments.
OX2 appoints Matthias Taft as new CEO after Paul Stormoen’s departure
Swedish renewable energy developer OX2 has appointed Matthias Taft as its new chief executive officer, succeeding Paul Stormoen, who led the company since 2011 and will now join the board of directors.
Global renewable energy investments reach $386 billion in first half
Driven by distributed solar and offshore wind, renewable energy investments rose 10% year-on-year despite falling financing for large-scale projects.
Australian Oilseeds granted a reprieve from Nasdaq to meet equity threshold
Australian Oilseeds Holdings was granted a deadline extension until 30 September to comply with the Nasdaq’s equity requirements, avoiding immediate delisting from the exchange.
Fermi America raises $350mn for its energy project dedicated to artificial intelligence
Fermi America has closed $350mn in financing led by Macquarie to accelerate the development of its HyperGridâ„¢ energy campus, focused on artificial intelligence and high-performance data applications.

Log in to read this article

You'll also have access to a selection of our best content.