PR97227

HOUSTON, July 28, 2022 /PRNewswire=KYODO JBN/ --

LyondellBasell today announced it has made another step forward in its journey

to net zero greenhouse gas (GHG) emissions. The company signed two additional

long-term renewable electricity power purchase agreements (PPA) with Buckeye

Partners for a total of 165 megawatts (MW) to be sourced from Buckeye's solar

farms currently under construction in north Texas. This announcement is another

example of the progress LyondellBasell is making towards achieving its 2030

goal of procuring at least half, approximately five million megawatt hours

(MWh) per year, of its current electricity consumption from renewable sources.

This agreement is the fourth renewable energy PPA for LyondellBasell and comes

just one month after the company announced PPAs with ENGIE North America for

100 MW and Buckeye for 116 MW. The four agreements represent a total of 381 MW

of renewable energy, estimated to generate approximately 1,037,000

megawatt-hours (MWh) of clean power annually. This is equivalent to the yearly

electricity consumption of over 96,000 American homes.

"Infused in the work we do and products we make is our commitment to

continually improve the quality of life and the environment," said Peter

Vanacker, CEO of LyondellBasell. "Renewable energy is an important step to

achieving our GHG emission reduction goals on our journey to net-zero by 2050.

Through their use in the production of wind turbines, solar panels and electric

vehicles, our products are critical to the energy transition. Expanding our

investment in wind and solar energy sources helps reduce the emissions

associated with producing the vital products which make renewable energy

possible."

Buckeye Crown and Sol Solar Projects

Buckeye's Crown and Sol solar projects are located in Falls County, Texas on

adjacent sites and are expected to commence commercial operations in the third

quarter of 2023. Each PPA term with LyondellBasell is for 15 years. The

projects are estimated to generate over 400,000 MWh of clean power annually for

LyondellBasell, equivalent to 152,000 metric tons of carbon dioxide or the

yearly electricity consumption of nearly 37,000 average American homes.

Decarbonizing electricity supply through the purchase of renewable electricity

is important to meeting LyondellBasell's 2030 targets. The renewable energy

source target is estimated to reduce approximately 1.5 million metric tons of

greenhouse emissions from its scope 2 emissions annually.

About LyondellBasell

As a leader in the global chemical industry, LyondellBasell strives every day

to be the safest, best operated and most valued company in our industry. The

company's products, materials and technologies are advancing sustainable

solutions for food safety, access to clean water, healthcare and fuel

efficiency in more than 100 international markets. LyondellBasell places high

priority on diversity, equity and inclusion and is Advancing Good with an

emphasis on our planet, the communities where we operate and our future

workforce.  The company takes great pride in its world-class technology and

customer focus. LyondellBasell has stepped up its circularity and climate

ambitions and actions to address the global challenges of plastic waste and

decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's

"World's Most Admired Companies" for the fifth consecutive year. For more

information, please visit www.lyondellbasell.com  or follow @LyondellBasell (

https://www.linkedin.com/authwall?trk=bf&trkInfo=AQGH3gFiMPhK3wAAAYI_eAsAqEFGV5-SlYvELrgiFxKadgaNbyHUot7U2QMNQtMCWsmgtw56IyInFuGvPnbLJZ10gm5Yl_P4ZJFIdzX9c1bABLuQC7eYLCUdhAkhSUX75SP7IC8=&original_referer=&sessionRedirect=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Flyondell-basell%2F%3FminiCompanyUrn%3Durn%253Ali%253Afs_miniCompany%253A5667%26lipi%3Durn%253Ali%253Apage%253Ad_flagship3_feed%253BwF2GxPbET4ix3Rj%252B1tlEOQ%253D%253D%26licu%3Durn%253Ali%253Acontrol%253Ad_flagship3_feed-actor_container%26lici%3D38mXQHpTyzJjhSlW%252FYR2Aw%253D%253D ) on LinkedIn.

Forward-Looking Statements

The statements in this release relating to matters that are not historical

facts are forward-looking statements. These forward-looking statements are

based upon assumptions of management of LyondellBasell which are believed to be

reasonable at the time made and are subject to significant risks and

uncertainties. When used in this presentation, the words "estimate," "believe,"

"continue," "could," "intend," "may," "plan," "potential," "predict," "should,"

"will," "expect," and similar expressions are intended to identify

forward-looking statements, although not all forward-looking statements contain

such identifying words. Actual results could differ materially based on factors

including, but not limited to, the availability, cost and price volatility of

utilities; our ability to meet our sustainability goals, including our ability

to  reduce our emissions and achieve net zero emissions by the time set in our

goals; our ability to procure energy from renewable sources; and the successful

construction and operation of the projects described in this release.

Additional factors that could cause results to differ materially from those

described in the forward-looking statements can be found in the "Risk Factors"

section of our Form 10-K for the year ended December 31, 2021, which can be

found at www.LyondellBasell.com on the Investor Relations page and on the

Securities and Exchange Commission's website at www.sec.gov . There is no

assurance that any of the actions, events or results of the forward-looking

statements will occur, or if any of them do, what impact they will have on our

results of operations or financial condition. Forward-looking statements speak

only as of the date they were made and are based on the estimates and opinions

of management of LyondellBasell at the time the statements are made.

LyondellBasell does not assume any obligation to update forward-looking

statements should circumstances or management's estimates or opinions change,

except as required by law.

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SOURCE LyondellBasell Industries

CONTACT: LyondellBasell Media Line, Phone: +1 713 309 7575, Email:

mediarelations@lyondellbasell.com