ICYMI: MANCHIN CO-CHAIRS SUBCOMMITTEE HEARING ON IMPORTANCE OF APPALACHIAN STORAGE HUB
Washington, D.C. – U.S. Senator Joe Manchin (D-WV) today co-chaired an Energy and Natural Resources Subcommittee hearing on a number of legislative proposals and highlighted the importance of federal support and partnership for the development of a natural gas liquids storage hub in the Appalachian region.
Senator Manchin said in part: “West Virginia and the greater Appalachian region have an extraordinary opportunity at hand. The quad-states of West Virginia, Ohio, Pennsylvania and Kentucky possess certain attributes that make the region a prime location for an energy storage hub. The region’s shale formations – the Marcellus and Utica – contain abundant wet natural gas and natural gas liquids like ethane, butane and propane. A reliable supply of these products is a critical piece of the consumer products supply chain, and therefore, our national economy. Coupled with expanding energy infrastructure and the region’s geologic storage which is naturally occurring, a storage hub for NGLs will play a role in attracting much-needed manufacturing investment and associated economic activity. The development and construction of a “hub” to store these high value products in underground geologic formations could ultimately lead to a petrochemical manufacturing hub and a revitalization of the area’s manufacturing center.”
To watch a video of the Senator’s remarks, please click here.
Senator Manchin introduced the the Capitalizing American Storage Potential (CASP) Act in June. The legislation would make a regional storage hub eligible for the Department of Energy’s successful Title XVII loan guarantee program, allowing the Mountain State to realize the unique opportunities associated with Appalachia’s abundant natural gas liquids (NGLs) resources, naturally-occurring geologic storage, and expanding energy infrastructure. In a recent economic study, the American Chemistry Council concluded that the creation of such a hub would allow the Appalachian region to seize on the opportunities associated with these valuable natural resources, potentially attracting up to $36 billion in new chemical and plastics industry investment and creating 100,000 new jobs in the area. The construction of a hub and the associated infrastructure and ethylene/polyethylene facilities, will attract sorely needed economic activity to this underserved part of the country, which continues to suffer from high unemployment as a result from the downturn in both energy production and manufacturing.
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