As power demand surges, LNG has a critical role to play in providing a reliable, flexible fuel source that can be quickly scaled to meet rising demand', Baker Hughes Chairman and CEO Lorenzo Simonelli said.

Venture Global LNG has been granted federal approval to introduce natural gas into the seventh block of its Plaquemines plant in Louisiana, US, reported Reuters. This move is part of the company's ongoing efforts to escalate its liquefied natural gas (LNG) production capabilities.

U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Thursday, as robust demand for natural gas equipment and services helped offset weak sales of its drilling gear in North America.