June 1 (Reuters) - Chemical maker LyondellBasell Industries said on Thursday it would evaluate a new electric furnace technology in olefins production, along with Technip Energies and Chevron Phillips Chemical, as it seeks to cut greenhouse gas (GHG) emissions.
The three parties plan to jointly design, construct and operate a demonstration unit for the new eFurnace Technolgy at LyondellBasell's Channelview site.
Lyondell is among the world's largest producers of olefins that are used in automobiles, durable goods, detergents, milk bottles and food packaging.
The company said the eFurnace technology could enable LyondellBasell to use renewable electricity as a heat source for the olefins cracking process.
It has the ability to reduce furnace GHG emissions by up to 90% compared with a conventional furnace, LyondellBasell CEO Peter Vanacker said.
The Houston-based company, which has entered into a memorandum of understanding with Technip and Chevron to evaluate the technology, said a joint development agreement is expected to be signed later this year. (Reporting by Sourasis Bose in Bengaluru Editing by Vinay Dwivedi)
