UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (date of earliest event reported): January 1629, 2009

EQUISTAR CHEMICALS, LP

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)


333-76473		76-0550481
(Commission File Number)		(I.R.S. Employer Identification No.)

1221 McKinney Street, Suite 700, Houston, Texas		77010
(Address of principal executive offices)		(Zip Code)

(713) 652-7200

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8 1.01. ~~Other~~Entry ~~Events.~~into a Material Definitive Agreement

On January 1629, 2009, ~~officers~~and ofFebruary 2, 2009, Lyondell Chemical Company and its affiliates (including its wholly owned subsidiary, Equistar Chemicals, LP, collectively the “~~Lyondell~~Borrowers”) ~~made~~which aare ~~presentation~~parties atto the debtor-in-possession financing (the “DIP Financing”) term sheet which was approved on an ~~organizational~~interim ~~meeting~~basis by the United States Bankruptcy Court for ~~unsecured~~the ~~creditors~~Southern District of ~~Lyondell~~New York ~~and~~on ~~certain~~January 8, of2009, ~~its~~entered ~~affiliates~~into agreements with the lenders party thereto (i) extending the date by which definitive documentation for the DIP Financing must be entered into to February 6, ~~including~~2009, ~~its~~(ii) extending ~~wholly~~the ~~owned~~date ~~subsidiary~~by which ~~Equistar~~the ~~Chemicals~~final order approving the DIP Financing must be entered to February 11, ~~LP.~~2009 Aand ~~copy~~(iii) waiving any defaults or events of default arising by reason of the definitive documentation not having been entered into and the final order ~~presentation~~not ishaving ~~included~~been inentered ~~this~~prior ~~Report~~to onthe ~~Form~~dates ~~8-K~~required asby ~~Exhibit~~the 99DIP Financing term sheet.1 The Borrowers and the lenders continue to negotiate the definitive documentation for the DIP Financing. The final hearing with respect to the DIP Financing has been scheduled for February 10, 2009.

Item 9.01 Exhibits.

99.1 Unsecured Creditors Organizational Meeting Presentation.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


EQUISTAR CHEMICALS, LP

By:		/s/ Gerald A. O’Brien
Name:		Gerald A. O’Brien
Title:		Vice President, General Counsel and Secretary

Date: ~~January~~February 164, 2009

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