Appalachia Development Group Announces Engineering, Procurement and Construction Partner for Appalachia Storage and Trading Hub
CHARLESTON, W.Va.--(BUSINESS WIRE)--Aug 29, 2018--Appalachia Development Group, LLC, (ADG) today announced that it has selected Parsons Corporation as its engineering, procurement and construction (EPC) partner for the safe, effective and efficient buildout of the Appalachia Storage and Trading Hub (ASTH). Parsons will initially focus on the Pre-FEED and FEED (front end engineering and design), including project management and execution planning. Subsequent phases include the construction of the $3.4 billion project and its long-term operation.
The ASTH is a proposed regional underground storage facility for highly valuable natural gas liquids and intermediates.
As a built-for-purpose facility, the ASTH enables significant benefits in commercial activity and job creation in the region. According to the American Chemistry Council, the development of the ASTH would serve as a catalyst for the creation of an estimated $36 billion in follow-on petrochemical investments and more than 100,000 new long-term jobs. It will increase the probability of American energy dominance by releasing the potential of the Marcellus, Utica and Rogersville Shale methane deposits for both domestic consumption and international consumption by America’s allies. 1
“After a rigorous review process of some of the most widely known and respected EPC companies in the country, we are pleased to announce the selection of Parsons as our EPC partner,” said Steven B. Hedrick, President & CEO, ADG. “Parsons has proven and successful experience with complex infrastructure projects. I have confidence in Parsons’s ability to support the development and completion of the Hub safely, effectively and efficiently.”
“Parsons is honored to have been selected by ADG as a partner on this critically important project that will ultimately support the economic and energy security needs of so many communities and citizens, including economic revitalization of the Ohio River Valley states,” said Carey Smith, President of Parsons federal business unit.
“Identifying and selecting an EPC partner is a significant milestone in our progress to develop the Hub,” Hedrick continued. “We look forward to our partnership with Parsons and to keeping the public updated on our progress.”
On January 3, 2018, ADG announced that based on the merits of its Part I Application, it had advanced to the next phase to submit a Part II Application for a loan guarantee under the U.S. Department of Energy (DOE) Title XVII Loan Guarantee Program. The application is for a $1.9 billion loan guarantee from the DOE to support the development of infrastructure for the Appalachia Storage and Trading Hub. ADG is working closely with the DOE on Part II of the application process while simultaneously working to secure $1.4 billion in equity investment.
About Appalachia Development Group, LLC ADG was formed as a collaborative platform to deliver the Appalachia Storage and Trading Hub, considered to be a catalyst for industrial development within the Appalachian region and associated with the utilization of the prolific shale wet-gas gas deposits in the Marcellus, Utica and Rogersville Shales.
About Parsons Corporation Parsons is a digitally enabled solutions provider focused on the defense, security, and infrastructure markets. With nearly 75 years of experience, Parsons is uniquely qualified to deliver cyber-physical security, advanced technology solutions, and other innovative services to federal, regional, and local government agencies, as well as to private industrial customers worldwide. For over seven decades, Parsons has been a trusted partner on over 700 oil and gas infrastructure projects. www.parsons.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20180829005106/en/
CONTACT: Appalachia Development Group
Katie Regan, 1-800-611-2296 x985
KEYWORD: UNITED STATES NORTH AMERICA WEST VIRGINIA
INDUSTRY KEYWORD: ENERGY OIL/GAS OTHER ENERGY MANUFACTURING CHEMICALS/PLASTICS ENGINEERING OTHER MANUFACTURING
SOURCE: Appalachia Development Group
Copyright Business Wire 2018.
PUB: 08/29/2018 09:00 AM/DISC: 08/29/2018 09:01 AM