CB&I, Phillips 66 Ink Deal To Buy E-Gas Technology Business - Quick Facts

(RTTNews.com) - CB&I ( CBI ) reported signing an agreement with Phillips 66 ( PSX ) to acquire the company's E-Gas Technology business. The E-Gas solids gasification technology is a commercially proven process to convert coal or petroleum coke into syngas, which can be used for power generation or further converted to substitute natural gas, hydrogen and downstream methanol-related chemicals production.

"We look forward to adding the E-Gas Technology to our portfolio, which will mark our entry into the syngas value chain. It also will bring added synergy to our delayed coking technology offering for integrated power generation, and other options to the refining and power industries," noted Daniel McCarthy, group president of CB&I's Technology operating group.

For comments and feedback: contact editorial@rttnews.com

http://www.rttnews.com