Ethane store hub could create 100,000 Ohio valley jobs
Wednesday, September 13, 2017
Researchers at West Virginia University believe a Marcellus and Utica shale ethane storage hub has the potential to create $36 billion in investment and more than 100,000 permanent jobs, according to The Intelligencer.
With drillers throughout the region producing about 460,000 barrels of ethane per day, the amount has grown to nearly three times the amount of ethane expected to be used per day at the Royal Dutch Shell ethane cracker set for Beaver County, Pa. and the potential PTT Global Chemical cracker at Dilles Bottom, combined.
One of the major hurdles to building ethane crackers in Ohio, Pennsylvania and West Virginia is a lack of storage capacity to ensure a continued supply of ethane to the plant in the case of a pipeline rupture. However, several areas were recently identified throughout the region with favorable geology for ethane storage.
Learn more: The Intelligencer > Ethane storage could bring 100,000 jobs to the Ohio Valley
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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.
There are lots of parallels to the Gulf Coast Ethylene Network. Of course they are just getting started in Ohio & PA.