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China Is Financing a Petrochemical Hub in Appalachia. Meet its Powerful Backers.

U.S. President Trump, Chinese President Xi Jinping, and West Virginia Commerce Sec. Thrasher join in the Great Hall in Beijing for MOU signing for the Appalachian Development Hub  in November 2017

Over the past year, oil and gas industry plans to build a petrochemical refining and storage hub along the Ohio River have steadily gained traction. Proponents hope this potential hub, which would straddle Pennsylvania, Ohio, West Virginia, and Kentucky, could someday rival the industrial corridor found along the Gulf Coast in Texas and Louisiana.

Those plans center around creating what is known as the Appalachian Storage Hub, which received a major boost on November 9 during a trade mission to China attended by President Donald Trump and U.S. Secretary of Commerce Wilbur Ross. At that trade mission, also attended by Chinese President Xi Jinping, the China Energy Investment Corp. announced the signing of a memorandum of understanding (MOU) to invest $83.7 billion into the planned storage hub over 20 years. For comparison, West Virginia's gross domestic product (GDP) in 2016 was $72.9 billion.

Though called the Appalachian Storage Hub as a broad-sweeping term, in practice the hub could encompass natural gas liquids storage, a market trading index center, a key pipeline feeding epicenter, and a petrochemical refinery row. Its prospective development has been spurred by the current construction of a $6 billion petrochemical refining facility in Pennsylvania owned by Shell Oil.

Tags: 
XTO Energy
Capitalizing on American Storage Potential Act
American Petroleum Institute
Appalachian Storage Hub
The Thrasher Group
Interstate Oil and Gas Compact Commission
Brian Anderson
Woody Thrasher
West Virginia University Energy Institute
china
Wilbur Ross
Mid-Atlantic Technology Research and Innovation Center
WVU Innovation Corporation
Appalachia Development Group
west virginia
fracking
hydraulic fracturing
Shelley Moore Capito
David McKinley
China Energy Investment Corp
shale gas
ohio valley environmental coalition
Marcellus shale
shell oil
American Chemistry Council
Appalachian Energy and Manufacturing Infrastructure Revitalization Act
Joe Manchin
West Virginia University Innovation Corporation


This post first appeared on DeSmogBlog | Clearing The PR Pollution That Clouds, please read the originial post: here

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China Is Financing a Petrochemical Hub in Appalachia. Meet its Powerful Backers.

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