points unknown . It ’ s not a failing for the hub to be in Ohio or Pennsylvania or Kentucky . We should define a win as Appalachia earning the opportunity to have this industrial spread occur in a safe and environmentally sound way .”
While it might be hard to understand how West Virginia could possibly be on the winning side if it is looked over in the final site selection process , the Mountain State will see growth and prosperity regardless .
“ The reason it ’ s not important which state the hub is built in is the number of jobs that are going to be created by the storage facility post-construction ,” says Anderson . “ The number of jobs the hub will create will be miniscule compared to the growth of the petrochemical industry it will catalyze . The storage hub is the catalyst to spark new manufacturing growth in the petrochemical sector . If it were in Ohio , there would be pipes that connect to industrial sites in West Virginia and vice versa .”
He also points to the high likelihood that there will be multiple sites for the hub , not just one facility in one seemingly lucky state . The entire industry is going to reap the benefits , resulting in exponential growth .
The cherry on top is the trading piece that has been added
“ That stick-to-itiveness we have as Appalachians — we ’ re going to have to have that as we move forward , as the investment rolls out , as off-take agreements are made and as the business case continues to expand .”
to the hub ’ s official name .
“ That trading piece allows for industry to make investment decisions much more freely ,” says Anderson . “ Right now , to buy the raw materials necessary to build a cracker , Shell and PTT Global have had to sign long-term contracts with producers through the midstream operators . That ’ s not how business is done in the Gulf Coast , where it is much more predictable because you have a trading market for those raw materials that ’ s transparent . When new companies are looking to invest in the region , all they have to do is look at the historical performance of that market to try to predict their future raw material costs . We ’ re basically creating a commodities trading market in the region that is transparent to future investors .”
Applying for a Loan Guarantee
As the geologic studies for the three states took place , the team began to develop the storage hub from a business and technical standpoint . Last year , a number of conversations with the U . S Department of Energy ( DOE ) identified its Loan Programs Office ( LPO ) and its Title XVII program as a place
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