Baker hughes sees several large lng projects coming in 2020 - conf call
In co's view natural gas demand will grow at over twice the pace of oil; lng demand growth will be at annual rate of 4%-5% - conf call.expect 2020 growth to moderate internationally compared to 2019.expect opec may have to consider additional cuts.within ofs segment, preparing for a north american market that is likely to see another reduction in e&p spending in 2020.agree with estimates suggesting lower 48 drilling, completion spending could decline in high single-digit/low double-digit range in 2020.in roc segment, continue to see demand for around 100 trees in 2019, roughly flat versus 2018.believe several large lng projects still to come in rest of 2019 and in 2020.see north america ofs revenue declining sequentially in q4 due to further deterioration in drilling, completion activity in u.s. land market.sees overall ofs revenue to be slightly down sequentially in q4.sees q4 international ofs revenue to be roughly flat sequentially.expect q4 margins to be roughly flat to slightly down versus the third quarter.looking beyond q4 and into 2020, believe number of cross currents will impact ofs business.looking beyond q4 and into 2020, believe mid-single-digit international growth is reasonable expectation.looking beyond q4 into 2020, preparing for u.s. drilling and completion spend that could be down high single digits to low double digits.in q4, expect digital solutions revenue to be down mid-single digits, margins slightly lower yoy.
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