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The Associated Press reported Thursday West Virginia officials announced an agreement on Thursday with China Energy Investment Corp. Ltd. for the company to invest $83.7 billion in shale gas development and chemical manufacturing in West Virginia over 20 years.
State Commerce Secretary Woody Thrasher and China Energy President Ling Wen signed the memorandum in Beijing as part of the US-China trade mission and an overall $250 billion of planned Chinese investments in the U.S. It during President Trump's visit to Beijing.
West Virginia commerce officials said project planning is already underway and will focus on power generation, chemical manufacturing and underground storage of natural gas liquids and derivatives. The state was chosen for its position as an energy producer and its large underground shale gas reserves.
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NewsClips:
AP: West Virginia Signs Natural Gas Investment Pact With China Energy
West Virginia Announces $38.7 Billion Natural Gas Development Deal With China Energy
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[Posted: Nov. 9, 2017]
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