Business & Finance
LyondellBasell to buy Houston pipeline
NEW YORK: LyondellBasell Industries NV said its Equistar Chemicals unit had agreed to buy about 200 miles of pipeline
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The pipelines and metering stations include a Houston olefins distribution system that transports ethylene and propylene from Channelview, Texas, to Equistar's storage terminal at Mont Belvieu and facilities in Deer Park, La Porte and the Bayport Industrial District in Pasadena, Texas.
The purchase also includes a natural gas liquids (NGL) feedstock supply line into Channelview.
Shares of Lyondell were up 1 percent in premarket trading.
Copyright Reuters, 2011