Baker Hughes provides equipment and services to oil and gas producers, spanning drilling technology, oilfield equipment and increasingly natural gas turbines and compression equipment used in liquefied natural gas facilities. The company has positioned itself somewhat differently from pure oilfield service peers by growing its industrial and energy technology segment, which includes turbomachinery and equipment sold to LNG export facilities and other industrial energy customers beyond traditional oil and gas drilling. Its oilfield services and equipment business is paid by exploration and production companies for drilling and well completion work, giving it exposure to how much producers are spending on drilling activity rather than to oil and gas prices directly. Growing global demand for liquefied natural gas exports has become an increasingly important growth driver for Baker Hughes' industrial equipment business, layered on top of its more traditional oilfield services operations.