HOUSTON, TEXAS (Energy Analytics Institute, 30.Jan.2025) — Baker Hughes expects 100 million tonnes per annum (MTPA) of final investment decisions (FIDs) between 2024-2026, according to the company’s chairman and CEO Lorenzo Simonelli.
This level of activity would increase global capacity and supports Baker Hughes’s long-standing forecast of 800 MTPA by 2030, Simonelli said 30 Jan. 2025 during the company’s fourth-quarter 2024 (4Q:24) webcast with analysts. In 2024, he said there were 17 MTPA of project FIDs.
“Accordingly, we anticipate more than 80 MTPA of FIDs in 2025 and 2026. Our strong FID outlook is supported by a record year of offtake contracting last year, which totaled 92 MTPA and exceeded the prior record of 84 MTPA set in 2022,” Simonelli said.
Macro outlook 2025
Baker Hughes expects the US economy to remain resilient despite a higher interest rate environment. This, as European and Chinese economies struggle to stimulate growth.
In 2025, the global economy will face various economic and geopolitical uncertainties, which have potential to yield another year of uneven global economic growth, Simonelli said. Despite the outlook, Baker Hughes continues to see increasingly positive trends for power consumption.
“Boosted by this encouraging development, we believe that natural gas and LNG demand will demonstrate accelerated growth, which will drive increasing demand for our gas-levered products and solutions in both OFSE and IET,” Simonelli said.
For what it’s worth, the consultancy Wood Mackenzie expects demand for US natural gas to rise by approximately 20 billion cubic feet per day (Bcf/d), or 18% by 2030, owing to a continued increase in gas requirements for new LNG facilities and data centers.

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