China to Make $83.7 Billion Energy Investment in West Virginia

Curated by Paul Helmick

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  • Here are key highlights from several referenced articles
  • West Virginia was the biggest recipient of the $250 billion of investments signed during President Donald Trump’s visit to China – Bloomberg
  • Thee deal include power generation, chemical manufacturing and underground storage of natural gas liquids derivatives, with the size of the proposed investment being larger than the state’s gross domestic product last year of $73 billion
  • President Donald  Trump and Chinese President Xi Jinping witnessed West Virginia Secretary of Commerce Wood Thrasher and China Energy President Ling Wen sign a Memorandum of Understanding (MOU) between China Energy and the state of West Virginia  – WV Executive
  • West Virginia University will work closely with the state Department of Commerce and other state officials to help coordinate the investment, with funding focused on developing an Appalachia Storage and Trading Hub, itself a key piece of reinvigorating the state’s and region’s petrochemical industry
  • “This investment by China Energy is the culmination of years of relationship building, both by West Virginia University and the state,” WVU President Gordon Gee said
  •  “The American Chemistry Council estimates that alone would bring 100,000 new jobs to the region” – MetroNews
  • MATRIC is proud to have played a central role on behalf of the WV team and to have collaborated closely with the West Virginia Department of Commerce, China Energy, and federal and state government officials on this agreement
  • “I want to thank President Donald Trump, Energy Secretary Rick Perry, Commerce Secretary Wilbur Ross, State Commerce Secretary Woody Thrasher, and the many others who have been involved in making this historic investment in West Virginia become a reality,” said Gov Justice
  • “Appalachia is poised for a renaissance of the petrochemical industry due to the availability of natural gas liquids,” said Brian Anderson, director of the WVU Energy Institute
  • “A critical path for this rebirth is through the development of infrastructure to support the industry – The Appalachian Storage Hub study is a first step for realizing that necessary infrastructure.”.

 

 

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