LyondellBasell to Buy Olefins Pipeline System from BP

LyondellBasell says its subsidiary Equistar Chemicals has signed an agreement to purchase about 200 miles of pipeline for olefins transportation near Houston, TX from BP. Equistar currently holds a long-term lease for use of the pipelines, which are owned and operated by BP. Acquiring the pipelines provides Equistar with a secure, cost-effective transportation system for its ethylene and propylene production in the Houston area. The deal is expected to close in August. Financial details were not disclosed.   The pipelines and metering stations comprise a...

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