Baker Hughes CEO: “This is the Age of Gas,” Demand Up 20% by 2040

Baker Hughes (BH), either the second- or third-largest oilfield services company in the U.S., depending on the criteria used, issued its third-quarter update last Thursday. BH CEO Lorenzo Simonelli had some interesting comments. One of them was this: "This is the age of gas." By 2040, Simonelli expects natural gas demand to grow by nearly 20% and global LNG demand to increase by 75%. Simonelli expects the focus for new infrastructure development to shift "from greenfield to brownfield developments."

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