Phased LNG Buildout

The most likely path is a staged project in which Baker Hughes supplies compression, turbomachinery, liquefaction services, and field rehabilitation while PDVSA works through financing and permitting. U.S. sanctions relief remains sufficiently durable for service contracts, but the project advances in phases rather than as a large immediate export buildout.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.