Parsons Corp. has been named the EPC partner for development of a proposed $3.4-billion regional underground storage facility for natural gas liquids and derivatives. The Appalachia Storage and Trading Hub will be sited at a location to be determined following geologic investigation. The site is proposed to hold production from the Marcellus, Utica and Rogersville Shale methane deposits and could be located in Kentucky, Ohio, Pennsylvania or West Virginia, says Steve Hedrick, CEO of the Appalachia Development Group. The developer has applied for a $1.9-billion loan guarantee from the Dept. of Energy while working to secure $1.4 billion in equity investment. The American Chemistry Council estimates the hub could facilitate $36 billion in follow-on petrochemical investment in the region. Parsons will initially focus on front-end engineering and design.
Natural Gas Hub Planned for Appalachia
September 13, 2018