Ukraine’s state-owned energy company Naftogaz has signed a memorandum of understanding (MoU) with U.S.-headquartered energy technology giant Baker Hughes to explore opportunities for fortifying the energy sector in Ukraine.
The companies agreed to explore new technical, operational, and commercial opportunities in various energy sectors. This includes oil and gas extraction, transportation, storage, and processing, carbon capture technologies, and electricity generation, among others.
Services and equipment for drilling and well construction, emission reduction solutions, carbon capture projects, equipment for subsurface operations and production processes, as well as software for asset management and drilling optimization are some of the areas the duo plans to cooperate on.
“Naftogaz Group is building collaboration frameworks that help Ukraine overcome wartime challenges, implement modern energy solutions, and strengthen energy independence. Baker Hughes has global expertise across the energy value chain, and we see great potential in this cooperation,” said Sergii Koretskyi , Chief Executive Officer (CEO) of Naftogaz.
The U.S. player also signed a separate MoU with JSC Ukrtransgaz , a member of Naftogaz Group, to discuss and assess the potential to leverage Baker Hughes’ gas technology equipment portfolio for Ukrainian underground gas storage and power generation projects.
Paolo Noccioni , President, Nuovo Pignone, Baker Hughes, noted: “Baker Hughes is committed to supporting Naftogaz Group and companies in Ukraine with its energy technology solutions portfolio and expertise.
“The ultimate goal of our companies is to contribute to the energy security and decarbonisation of Ukraine’s energy sector and support the eventual reconstruction of the country’s economy through reliable and modern energy solutions.”
In addition to technology, the Ukrainian player will soon be getting U.S.-sourced liquefied natural gas (LNG) thanks to a deal signed with Poland’s Orlen for the delivery of 440 million cubic meters of LNG.