Chinese company to invest $83.7 billion in West Virginia shale
Friday, November 24, 2017
China Energy Investment Corp. Ltd. will invest $83.7 billion in shale gas development and chemical manufacturing in West Virginia over the course of 20 years per an agreement with West Virginia officials, according to the Associated Press.
West Virginia Commerce Secretary Woody Thrasher and China Energy President Ling Wen signed a memorandum in Beijing as part of a U.S.-China trade mission during President trump’s visit. Officials say it is part of an overall $250 billion of planned Chinese investments in the U.S.
Project planning will focus on power generation, chemical manufacturing and underground storage of natural gas liquids and derivatives, according to state officials.
Learn more: PennEnergy > West Virginia signs investment pact with China Energy
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.