Baker Hughes and Shell Global Solutions BV (Shell) have signed a broad strategic collaboration agreement to accelerate the global energy transition by helping each other achieve their respective commitments for net-zero carbon emissions and advancing solutions to decarbonize energy and industrial sectors. The memorandum of understanding (MoU) intends to build on the existing relationship between Shell and Baker Hughes in key areas: Shell will initially provide selected Baker Hughes U.S. sites with power and renewable energy credits and the companies will negotiate renewable power for Baker Hughes? sites in Europe and Singapore; Shell and Baker Hughes also agreed to broader collaboration to identify other opportunities to accelerate each other?s transition to net-zero carbon emissions by 2050, such as Baker Hughes providing low-carbon technology solutions for Shell?s LNG fleet; and The two companies will further explore potential opportunities to co-invest and participate in new models to decarbonize energy and industrial sectors. Shell and Baker Hughes will further collaborate to explore additional opportunities to help Baker Hughes accelerate its transition to net-zero carbon equivalent emissions, including Shell providing low-carbon transportation and fuel solutions for Baker Hughes. In turn, Shell will evaluate opportunities for Baker Hughes to provide low-carbon solutions for Shell?s LNG fleet through technology upgrades and compressor re-bundles. Baker Hughes will also help Shell develop digital solutions to accelerate decarbonization across Shell?s global assets and operations. Shell and Baker Hughes have already achieved important results through their long-standing relationship, including: Baker Hughes was the first supplier to participate in Shell?s ?Supplier Energy Transition Hub? - a key collaboration and co-learning platform where suppliers define and estimate their emissions reduction ambitions while learning from other industry experiences; Under the Open AI Energy Initiative (OAI), Baker Hughes helped Shell develop and bring to market solutions to accelerate decarbonization across Shell?s assets and the wider industry; and The two companies also introduced VitalyX, a digital lubrication oil monitoring system using the latest digital technologies to ensure the uptime, performance, and optimization of a customers? marine fleet.