The plan to store natural gas liquids in underground salt caverns along the Ohio River, about 12 miles south of a proposed ethane cracker plant in the Dilles Bottom area of Shadyside, may soon become a reality. David Hooker, president of Mountaineer NGL Storage and the parent company of Denver-based Energy Storage Ventures, told the Monroe County Commissioners Monday that all permits have been approved and construction could begin the first quarter of next year. “It’s been a long time coming,” he said.
My guess is that this means they’ve resolved a contract with a user, stated Bryce Custer, principal of NAI Ohio River Corridor. “I’d guess that this solidifies the PTTGC pending FID announcement.” READ MORE >
Steven Winberg, the U.S. Department of Energy’s assistant secretary for fossil fuels, says a renaissance is coming to the Appalachian region. “I would say that the “renaissance” is not coming, it is here now,” said Bryce Custer, principal of NAI Ohio River Corridor. “What we have known in the Tri-State region for years is finally getting attention in Washington, D.C. Thank you to Steven Winberg for speaking to WV IOGA (Independent Oil & Gas Association) at the annual Summer Meeting.”
While speaking before members of the Independent Oil and Gas Association of West Virginia during the organization’s annual Summer Meeting, Winberg said the tri-state region of Ohio, Pennsylvania and West Virginia is on the verge of what he calls an “Appalachian petrochemical renaissance.” READ MORE >
Thanks to Tom Gellrich from Topline Analytics for bringing this to my attention. “With a capacity of 2 million tonnes per annum, this would be the largest cracker in the world. Location and FID are yet to be determined. The Shell Polymer Complex is projected to produce 1.5 tonnes per annum.” -Bryce Custer.
Qatar Petroleum has signed an agreement with Chevron Phillips Chemical to develop a new world-scale petrochemical project in the Gulf Coast region of the United States of America. The signing took place at the White House, in the presence of His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar, and the President of the United States, Donald Trump. READ MORE >
“The old adage continues to be true ‘There is no bad time to buy good real estate,’” said Bryce Custer, principal of NAI Ohio River Corridor. “Julie Shaffer, our officer manager shared the following article with me. Shawn Langlois for Market Watch notes that the “deep-pocket investors are continuing to move away from equities and building up their positions in real estate.” The superrich blueprint to navigating this hairy stock market: tap the brakes and get ready to pounce when it all goes to hell.
And by the looks of last Monday’s market, hell might not be too far away. In the first quarter, Tiger 21, a coalition of 750 members worth in excess of $75 billion, raised cash to levels not seen since 2013. READ MORE >