CB&I (NYSE: CBI) is buying Phillips 66’s (NYSE: PSX) e-gas technology business for an undisclosed amount.
The technology can be used to generate power to substitute for natural gas, hydrogen and methanol-related chemicals. The deal allows CB&I to enter the syngas market.
CB&I, headquartered in the Hauge, is an energy infrastructure company that provides design, engineering, construction, fabrication, maintenance and environmental services.
Houston-based Phillips 66 provides refining, natural gas processing and chemical production services.