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Baker Hughes Company (NASDAQ:BKR) has been selected by Snam SPA (OTC:SNMRY), a premier energy infrastructure entity in Europe, to supply three state-of-the-art turbocompressors equipped with NovaLT™12 gas turbines.
The contract was awarded to Baker Hughes following a public tender. The terms were not disclosed.
The collaboration underscores a significant step towards reducing carbon emissions within the Italian gas infrastructure. It is part of the broader Adriatic Line pipeline project, designed to enhance energy supply routes from various regions to northern Europe.
NovaLT is notable for its capability to blend up to 10% hydrogen with natural gas, marking a significant advancement in decarbonizing Italy’s gas network.
The initiative involves integrating these turbines into a new compressor station in Sulmona, Italy, contributing to the Adriatic Line pipeline. This pipeline, extending 425 km and designed to be hydrogen-ready, is part of Italy’s National Recovery and Resilience Plan and the REpowerEU Plan, highlighting its eligibility for financing due to its potential environmental benefits.
This collaboration follows a series of successful ventures, including testing a “hybrid” hydrogen turbine in 2020 and installing a NovaLT™12 turbine in Italy in 2022.
Price Action: BKR shares traded higher by 1.06% at $33.94 on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons
