Australia’s Woodside Energy Group Ltd. has a preliminary agreement with Baker Hughes Co. to identify technologies to support support low-carbon solutions.

The memorandum of understanding would “explore opportunities” in Australia, Asia and the United States.

“Collaborations provide a pathway to help solve the challenges we face in our industry today and into the future,” said Woodside’s Daniel Kalms, executive vice president of Technical Services.

Woodside, a global LNG producer, also plans to invest $5 billion by 2030 for new energy products and lower-carbon services. The company has a plethora of renewable energy projects in Australia and abroad, including a liquid hydrogen production plant in Ardmore, OK

Woodside also is partnering with Heliogen Inc. on...