GE Energy to acquire ChevronTexaco's gasification technology business

By OGJ editors

HOUSTON, May 13 -- GE Energy, a division of General Electric Co., Atlanta, Ga., plans to acquire ChevronTexaco Worldwide Gasification Technology Inc. from ChevronTexaco Corp., which said it plans to continue its focus on commercializing natural gas resources using LNG and gas-to-liquids technology.

The transaction will broaden GE Energy's gasification plant offerings and expand its ability to provide coal power generation that produces fewer air pollutants than conventional coal combustion, a spokesman said. The ChevronTexaco technology develops and licenses gasification-related intellectual property for use in the chemicals, electric power, and hydrogen producing industries.

GE Energy said it would continue to headquarter the gasification business in Texas.

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