EVOL: Baker Hughes pensions, heat pump wonders, and Prax in Shetland
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EVOL: Baker Hughes pensions, heat pump wonders, and Prax in Shetland
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This week, US services giant Baker Hughes was reported to be reviewing its UK pension scheme in a move that potentially puts thousands of jobs at risk. Aberdeen features lead Ryan Duff discusses what the firm is trying to do and voices the concerns of Aberdeen workers, while News Editor Erikka Askeland provides her pension board expertise.
There has been some back and forth on the matter but ultimately, the move from Baker Hughes seems to put workers between a rock and a hard place.
And Michael Behr discusses electrification with SynchroStor chief technology officer Alexis Dole. Hydrogen has long been seen as the only way to make high-temperature industrial processes green. But SynchroStor has developed technology to make heat pumps strong enough to offer an alternative.
Finally, Erikka discusses the Shetland gas terminal and the Greater Laggan Area fields as workers breathed a sigh of relief following financial uncertainty from Prax. It turns out that the deal the firm signed with TotalEnergies in 2024 hadn't gone through so workers on the Scottish islands are unaffected by Prax's financial woes.
However, news was not so good for workers at the Lindsey oil refinery on the Humber.