A pair of bills introduced by U.S. Sen. Shelley Moore Capito (R-WV) on Monday would support the development of an Appalachian natural gas storage hub to fuel economic development in the region.
The Appalachian Energy and Manufacturing Infrastructure Revitalization Act would direct the secretary of energy to declare the natural gas storage hub “critical energy infrastructure,” making the project eligible for expedited permitting. A second bill, the Capitalizing American Storage Potential (CASP) Act, would make the project eligible for a Department of Energy loan guarantee program to help draw private investment.
“The benefits of establishing a regional energy hub in Appalachia cannot be overstated,” Capito said. “This important infrastructure project would help create much-needed jobs for West Virginians and grow our state’s economy in meaningful ways. By reducing regulatory burdens, the Appalachian Energy and Manufacturing Infrastructure Revitalization Act will bring us one step closer to making the Appalachian energy hub a reality.”
The natural gas storage hub could generate $36 billion in capital investments and 100,000 permanent jobs in the region by 2020, according to estimates by the American Chemistry Council.
“An Appalachian storage hub has the potential to be a game-changer for West Virginia,” Capito said. “Not only would a regional storage hub help us make the most of our energy potential, but it would create jobs and spur economic growth, benefiting communities across the state. With legislation like this and my new legislation to reduce regulatory barriers, I will continue leading the effort to make this important infrastructure project a reality.”
The Appalachian Energy and Manufacturing Infrastructure Revitalization Act would streamline permitting of the natural gas storage hub by preventing agencies with secondary roles in the project creating lengthy delays, and federal agencies would be directed to expedite consideration of grant and loan applications related to the project.