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Released July 30, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--In an effort to broaden its role in the rapidly developing markets for liquefied natural gas (LNG) and data-center development, among others, Baker Hughes Company (Houston, Texas) announced Tuesday it would acquire Chart Industries Incorporated (Atlanta, Georgia), which provides engineered equipment to the clean-energy and industrial-gas markets, in a $13.6 billion all-cash deal, including debt. Industrial Info is tracking about $36 billion worth of active and proposed projects featuring Chart's services, and nearly $43 billion worth featuring Baker Hughes.
Click on the image at right for a graph detailing the parent companies for U.S.-based projects featuring Chart's services, by total investment value.
Lorenzo Simonelli, the chief executive officer of Baker Hughes, told the Financial Times that an acquisition of Chart would offer his company better access to high-growth sectors of the economy: "When you think about the macro trends that are happening around the world, when it comes to data centers, when it comes to electrification, when it comes to decarbonization... all of these capabilities are now within Baker Hughes with the successful closing of the Chart Industries' acquisition."
Both companies reported strong second-quarter results. Baker Hughes saw profits of $701 million, compared with $579 million in second-quarter 2024, as sales in the company's Industrial and Energy Technology Unit, which handles LNG-related business, jumped 5% year-over-year to $3.29 billion. Baker Hughes is widely known for its oilfield services, but sales in that area dipped 10% over the same period to $3.62 billion, underscoring the company's eagerness to expand its role in the LNG market.
While Chart did not see any new large-scale LNG orders in the second quarter, it is involved in nearly $35 billion worth of LNG projects globally and picked up $1.5 billion of new orders in the second quarter, a 28.6% growth when compared with the same period last year. Chart reported net income of $76.1 million for the second quarter, a 29.86% increase from the second quarter of 2024.
Chart's projects under construction include two of the most closely watched LNG developments in the U.S.: Cheniere Energy Incorporated's (Houston) $8 billion Stage III at its Corpus Christi LNG Liquefaction Plant in Gregory, Texas, which comprises seven LNG production trains that will produce 10.5 million metric tons per year, and Woodside Energy Group's (Perth, Australia) LNG Production and Export Terminal in Lake Charles, Louisiana, the $4 billion first phase of which is designed to produce 5.2 million metric tons per year from four liquefaction units.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project and Plant databases can learn more about Corpus Christi Stage III in a detailed project report and plant profile, and can learn more about the Lake Charles development in a detailed project report and plant profile.
Altogether, Chart is involved in more than $20 billion worth of development related to the full Woodside project, which covers five LNG production trains and pretreatment units. Subscribers can click here for a full list of related project reports.
Baker Hughes already is involved in more than $39 billion worth of LNG projects worldwide, one of the largest of which is Venture Global LNG Incorporated's (Arlington, Virginia) Plaquemines LNG export facility in Davant, Louisiana. Baker Hughes is serving as technology provider on the multi-phase project, which is designed to produce up to 27.2 million metric tons per year of LNG for export. Subscribers can learn more from a detailed plant profile and click here for a list of detailed project reports.
An acquisition of Chart also would boost Baker Hughes' role in the market for lower-carbon energy. Chart is providing electrical, instrumentation and other services for Plug Power Incorporated's (Latham, New York) $600 million green hydrogen plant in Alabama, New York, which is designed to produce up to 80 metric tons per day upon completion. Chart also is at work on more than $400 million worth of other green hydrogen projects across the U.S.; subscribers can learn more about the New York development in a detailed project report and click here for a list of green hydrogen projects featuring Chart's services.
Baker Hughes expects its acquisition of Chart will close in mid-year 2026. The Flowserve Corporation (Irving, Texas), one of the largest U.S.-based suppliers of industrial and environmental machinery, made a rival bid for Chart that fell short.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects featuring Chart's services, and can click here for a full list of those featuring Baker Hughes.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the parent companies for U.S.-based projects featuring Chart's services, by total investment value.Lorenzo Simonelli, the chief executive officer of Baker Hughes, told the Financial Times that an acquisition of Chart would offer his company better access to high-growth sectors of the economy: "When you think about the macro trends that are happening around the world, when it comes to data centers, when it comes to electrification, when it comes to decarbonization... all of these capabilities are now within Baker Hughes with the successful closing of the Chart Industries' acquisition."
Both companies reported strong second-quarter results. Baker Hughes saw profits of $701 million, compared with $579 million in second-quarter 2024, as sales in the company's Industrial and Energy Technology Unit, which handles LNG-related business, jumped 5% year-over-year to $3.29 billion. Baker Hughes is widely known for its oilfield services, but sales in that area dipped 10% over the same period to $3.62 billion, underscoring the company's eagerness to expand its role in the LNG market.
While Chart did not see any new large-scale LNG orders in the second quarter, it is involved in nearly $35 billion worth of LNG projects globally and picked up $1.5 billion of new orders in the second quarter, a 28.6% growth when compared with the same period last year. Chart reported net income of $76.1 million for the second quarter, a 29.86% increase from the second quarter of 2024.
Chart's projects under construction include two of the most closely watched LNG developments in the U.S.: Cheniere Energy Incorporated's (Houston) $8 billion Stage III at its Corpus Christi LNG Liquefaction Plant in Gregory, Texas, which comprises seven LNG production trains that will produce 10.5 million metric tons per year, and Woodside Energy Group's (Perth, Australia) LNG Production and Export Terminal in Lake Charles, Louisiana, the $4 billion first phase of which is designed to produce 5.2 million metric tons per year from four liquefaction units.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project and Plant databases can learn more about Corpus Christi Stage III in a detailed project report and plant profile, and can learn more about the Lake Charles development in a detailed project report and plant profile.
Altogether, Chart is involved in more than $20 billion worth of development related to the full Woodside project, which covers five LNG production trains and pretreatment units. Subscribers can click here for a full list of related project reports.
Baker Hughes already is involved in more than $39 billion worth of LNG projects worldwide, one of the largest of which is Venture Global LNG Incorporated's (Arlington, Virginia) Plaquemines LNG export facility in Davant, Louisiana. Baker Hughes is serving as technology provider on the multi-phase project, which is designed to produce up to 27.2 million metric tons per year of LNG for export. Subscribers can learn more from a detailed plant profile and click here for a list of detailed project reports.
An acquisition of Chart also would boost Baker Hughes' role in the market for lower-carbon energy. Chart is providing electrical, instrumentation and other services for Plug Power Incorporated's (Latham, New York) $600 million green hydrogen plant in Alabama, New York, which is designed to produce up to 80 metric tons per day upon completion. Chart also is at work on more than $400 million worth of other green hydrogen projects across the U.S.; subscribers can learn more about the New York development in a detailed project report and click here for a list of green hydrogen projects featuring Chart's services.
Baker Hughes expects its acquisition of Chart will close in mid-year 2026. The Flowserve Corporation (Irving, Texas), one of the largest U.S.-based suppliers of industrial and environmental machinery, made a rival bid for Chart that fell short.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects featuring Chart's services, and can click here for a full list of those featuring Baker Hughes.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
