Belmont County could be home to future $5 billion cracker plant
Thursday, April 23, 2015
The Business Journal reports that PTT Global Chemical PCL, based in Bangkok, Thailand, is looking at land in Belmont County to develop a $5 billion petrochemical plant. The newspaper states that the project would be financially backed by Japan’s Marubeni Corp.
PTT will conduct engineering and feasibility studies over the next four to 16 months to decide whether or not to build the plant. A decision is expected to be made by the second quarter of 2017. If the decision is made to build the cracker plant, it could go into service during the third quarter of 2020.
The cracker plant could create 10,000 jobs for skilled trades workers during construction and 1,000 permanent jobs once it goes online.
Via: The Business Journal > Asian Companies Eye Belmont County for $5 Billion Cracker Plant
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What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.