The world is on track to achieve 800 million metric tons/year (mmty) of LNG capacity by 2030, with Baker Hughes Co. expecting to grab a major slice of the market, executives said Wednesday.

CEO Lorenzo Simonelli, joined by CFO Nancy Buese, discussed the Houston-based oilfield service giant’s latest quarterly results and the outlook during a conference call. Most of the discussion, as well as the questions from analysts, centered around prospects for liquefied natural gas capacity. 

Through the next few years, the global outlook for positive final investment decisions (FID) to advance LNG projects “remains strong, and we see projects progressing across all markets,” Simonelli said. “But in 2024 specifically, we expect LNG FIDs of around 65 mmty. However, it is important...