Lewis Co. EDA Director Cindy Whetsell: “At the most local levels, the Atlantic Coast Pipeline is good business for… https://t.co/1ZCTGMlTKH
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- Letter: Natural gas growth wonderful news for West Virginia (Daily Mail)
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Last week’s economic development announcement of a potential $84 billion investment is a game changer for West Virginia, Shale Crescent USA and the Mid-Ohio Valley.
The memorandum of agreement marks a number of monumental projects that will accelerate economic growth for the Mid-Ohio Valley for many years to come.
It is hard to express how exciting this is. The impact of this investment by China Energy Investment Corporation will have far-reaching implications, including additional investments from a variety of downstream industries.
We believe it was only a matter of time before an announcement like this occurred due to the advantages of our region: the shale crescent of Ohio, West Virginia and Pennsylvania. Our advantages include:
Last week’s big announcement of a potential $83.7 billion investment from a China-owned energy company for shale gas and chemical manufacturing projects in West Virginia — assuming any or part of it comes to fruition — signals things will be different in West Virginia.
The potential investment and the new manufacturing, jobs and revenue that could come with the memorandum of understanding signed between China Energy and the West Virginia Department of Commerce would be a huge boon for a region that could use a big economic boost.
Charleston, W.Va. (November 9, 2017) – Anne Blankenship, executive director of the West Virginia Oil & Natural Gas Association (WVONGA), issued the following statement today following the announcement by the West Virginia Department of Commerce that China Energy Investment Corporation Limited will invest $83.7 billion in shale gas development and chemical manufacturing projects in West Virginia:
“WVONGA is thrilled to learn about the $83 billion investment to be made in West Virginia by China Energy. The investment will support the growth and development of natural gas end uses for which we have been advocating for many years.
Natural gas powered electric generation facilities, natural gas liquid storage, and the petrochemical manufacturing industry have all been part of our policy initiatives and we are excited to hear that a huge investment is planned to further those developments.
By creating additional uses for the enormous amount of natural gas that we are sitting on in West Virginia, and using those resources here, we not only grow our natural gas industry, we grow the manufacturing industry, jobs and state revenue.
West Virginia is primed for this development. We have one of the largest natural gas fields in the world, a strong work-force, proximity to a large portion of the nation’s population, and a rich history in manufacturing. We are ready.”
CHARLESTON, W.Va. — The state Department of Commerce announced overnight an agreement with China Energy to invest $83.7 billion in shale gas development and chemical manufacturing projects in West Virginia.
Gov.Jim Justice touted it as the largest private investment in West Virginia’s history.
The agreement was the biggest among several deals signed during President Donald Trump’s state visit to Beijing. The total value of the deals done during Trump’s trip could be as much as $250 billion, Reuters reported.