Baker Hughes Company (BKR), a leading energy technology company, has joined forces with Denmark’s state-owned gas distributor Evida to develop and scale CO2 transport solutions across Denmark, per an Offshore Energyreport. The strategic partnership is aimed at supporting the country’s carbon reduction ambitions through reliable, efficient and safe CO2 infrastructure.
BKR-Evida Deal Combines Complementary Strengths
Signed in April, the collaboration merges Baker Hughes’ expertise in CO2 process equipment with Evida CO2’s capabilities in CO2 pipeline transport. The partnership will focus on creating scalable solutions for CO2 emitters in Denmark, leveraging Evida’s 40-year legacy in gas network operations and Baker Hughes’ industry-leading technology.
Henrik Jensen, chief commercial officer at Evida, highlighted Baker Hughes’ strong position as a leading manufacturer of CO2 process equipment and emphasized that the company’s experience and technical expertise make it a highly suitable partner for advancing Denmark’s CO2 transport infrastructure.
Evida Lays Groundwork for First CO2 Pipeline Connections
Evida CO2, the subsidiary leading the effort, is already preparing for the first pipeline connections in line with the Danish government’s carbon capture and storage (CCS) tender timelines. The goal is to create a cost-effective, reliable network linking CO2 emitters with storage facilities.
Jensen noted that Evida CO2 is working to develop a safe and reliable CO2 pipeline infrastructure designed to support the entire value chain of CO2 capture, transport and storage.
Denmark’s Growing CCS Market Sees Momentum
The collaboration comes as Denmark accelerates its CCS ambitions. The country issued its first-ever CO2 storage permit in late 2022 to INEOS E&P and Wintershall Dea for the Greensand Pilot Injection Project, with the first CO2 injection into the North Sea completed in March 2023.
In May 2025, the Danish Energy Agency prequalified 10 companies for its CCS funding initiative. Final bids are due by Dec. 17, 2025, with contracts expected to be awarded in April 2026.
As Denmark advances with its large-scale decarbonization efforts, the Baker Hughes–Evida partnership is poised to play a pivotal role in establishing the CO2 transport backbone required to meet national and regional climate targets.
BKR’s Zacks Rank & Key Picks
Currently, Baker Hughes carries a Zacks Rank #4 (Sell).
Investors interested in the energy sector may look at a few better-ranked stocks like TechnipFMC plc (FTI), W&T Offshore, Inc. WTI and Oceaneering International, Inc. OII. TechnipFMC, W&T Offshore and Oceaneering International carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
TechnipFMC continues to build momentum in its subsea business, supported by strong order activity and a growing pipeline of opportunities. A key strength in FTI’s business model is its limited exposure to U.S. land operations, which are more sensitive to volatile commodity pricing.
The Zacks Consensus Estimate for FTI’s 2025 EPS is pegged at $2.08. The company has a Value Score of B.
W&T Offshore benefits from its prolific Gulf of America assets, which offer low decline rates, strong permeability and significant untapped reserves. The company’s acquisition of six shallow-water fields in the GoA added 18.7 million barrels of proved reserves and 60.6 million barrels of proved plus probable reserves. The firm is focused on strategically allocating capital toward organic projects, which should boost its production outlook. WTI has a Value Score of B.
Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability.
The Zacks Consensus Estimate for OII’s 2025 EPS is pegged at $1.79. The company has a Value Score of B.
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TechnipFMC plc (FTI): Free Stock Analysis Report W&T Offshore, Inc. (WTI): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis Report Baker Hughes Company (BKR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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